Which of the following is a defining characteristic of a public good?
A)It is produced and distributed by the government.
B)The decision to produce it is made by the public through the voting process.
C)It is produced and distributed by private firms according to government regulations.
D)It is freely available to everyone once it is produced.
E)It is purchased by one government agency from another government agency.

Question

Quizplus · Accepted Answer

A defining characteristic of a public good is that it is non-excludable, meaning once it is produced it is available to everyone and cannot be restricted to only certain individuals or groups. This distinguishes it from a private good, which is excludable and only available to those who pay for it. The other choices do not accurately describe a public good.

Which of the Following Is a Defining Characteristic of a Public