A private good is defined as a good or service
A) that is something tangible.
B) that is rival and excludable.
C) that is rival and nonexcludable.
D) produced by a single country.
E) that is nonrival and nonexcludable.

Question

Quizplus · Accepted Answer

Private goods are both rival, meaning that the consumption of one unit by one individual prevents the consumption of that same unit by another individual, and excludable, meaning that individuals can be prevented from consuming the good or service if they do not pay for it. Examples include food, clothing, furniture, and cars.

A Private Good Is Defined as a Good or Service