What does 'nonexcludable' imply about a good?

'Nonexcludable' refers to a characteristic of certain goods where it is not feasible to prevent individuals who do not pay for the good from using it. This concept is often discussed in the context of public goods, such as clean air or national defense, where once the good is provided, everyone can benefit from it regardless of whether they have contributed to its cost.

For example, if a community sets up a fireworks display, once the event takes place, all community members can enjoy the fireworks, and it is difficult to stop those who have not contributed from experiencing the show. This quality can also lead to challenges such as underfunding, as individuals may be incentivized to free-ride on the contributions of others, leading to the potential for goods to be underprovided in the market.

In contrast, the other options discuss scenarios that do not align with the definition of nonexcludability, such as the limitation of access or the requirement for payment, which contradict the inherent nature of nonexcludable goods.