Which of the following is a property of a public good?
A) A public good is free from externalities.
B) Many individuals benefit simultaneously.
C) A public good is not subject to free riders.
D) A public good is established by law.

Question

Quizplus · Accepted Answer

A public good is a type of good that is non-excludable and non-rivalrous, meaning that individuals cannot be effectively excluded from its use and that use by one individual does not reduce availability to others. Because of this, many individuals can benefit simultaneously from a public good, making option B the correct choice. Option A is incorrect because externalities can still exist with public goods, while option C is incorrect because free-riding is a common issue with public goods. Option D is also incorrect as public goods can be established through a variety of means, not just laws.

Which of the Following Is a Property of a Public