Final answer:
Gum is a private good as it is excludable and rivalrous, fitting the classification of tangible items restricted to one individual at a time.
Explanation:
A piece of gum is classified as a private good. Private goods are excludable and rivalrous, meaning access to them can be restricted, and consumption by one individual reduces availability for others. Bubble gum, being a tangible item that can only be enjoyed by one person at a time, fits this classification.
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