Talk:IB Economics/Microeconomics/Market Failure

I, as an IB student think, that definitions of rivalrous and excludable goods are incorrect.

According to my notes and other internet sources,

rivalrous is something which only some people can afford (hence the ones with lower income are excluded from having the good/service)

good isexcludable when if one person uses it, he decreases the enjoyment of that good of other person.

Please respond if this is correct or not and justify. Thanks, Barbora