What is a public good?
A)A good provided by the government which could be provided by private firms.
B)A good provided by private firms which could be provided by the government.
C)A good whose benefits are not affected by the number of users and from which no one can be excluded.
D)A good which is both excludable and difficult to produce at a profit.

Question

Quizplus · Accepted Answer

A public good refers to a good that provides benefits to everyone in society, and whose consumption by one individual does not reduce the amount available for others. Examples include lighthouses, national defense, and clean air. These goods are non-excludable (meaning it is difficult to prevent people from using the good) and non-rivalrous (meaning consumption by one person doesn't diminish the amount available for others). Therefore, a public good can only be provided through government action, as private firms would be unable to profitably produce such a good.

What Is a Public Good