Which of the following is the only type of good for which there is no market failure, and the government need not intervene to prevent it?
A) pure private good
B) pure public good
C) common pool resource
D) toll goods

Question

Quizplus · Accepted Answer

Pure private goods are efficiently provided through market mechanisms, as long as property rights are well-defined and transaction costs are low. Therefore, there is no need for government intervention to prevent market failure in the case of private goods.

Which of the Following Is the Only Type of Good