A good that is both nonexcludable and nonrival-in-consumption is called a
A) common good.
B) external good.
C) public good.
D) private good.

Name: A good that is both nonexcludable and nonrival-in-consumption is called a A) common good. B) external good. C) public good. D) private good.
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Question

Quizplus · Accepted Answer

A public good is nonexcludable, meaning people cannot be prevented from using it, and nonrival-in-consumption, meaning one person's use does not reduce availability to others.

A Good That Is Both Nonexcludable and Nonrival-In-Consumption Is Called