Is the Isurance industry a public good or resource for Economy reasons and a rival,excludable or neither.?
Answer:
A public good, in economics, is a non-rivalrous, non-excludable good.
A public park is a good example of this. My enjoyment of the park doesn't affect your enjoyment (We don't have to compete for the park) and it would be difficult to exclude someone from that park (Think Yosemite national).
So, does an insurance company cover this? Well, we know its at least excludable, so its not a public good.
Rivalrous is a little bit harder to answer. You would think an insurance company could pick up anyone they wanted too and technically not have to pay anything.
But every extra person they add does add a cost, a "risk" cost. So people do end up competing for coverage because the insurance company can only cover so many people.
Remember, this is different than, say, a park, where every extra person who goes to the park does NOT increase the cost of operation.
With insurance, there is a limited amount of coverage to be had, and therefore, a limited amount of people they can cover.
In summation, insurance is not a public good.
You don't make much sense. Perhaps you should look at grammar rather than 'isurance'.
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