Goods that are nonrival in consumption and nonexcludable are referred to as:
A)common resource goods.
B)private goods.
C)public goods.
D)normal goods.

Question

Quizplus · Accepted Answer

Goods that are non-rival in consumption and non-excludable are referred to as public goods. Public goods are goods that can be consumed by anyone without reducing the amount available for others to consume and individuals cannot be excluded from consuming the good. Examples of public goods include national defense, lighthouses, and public parks.

Goods That Are Nonrival in Consumption and Nonexcludable Are Referred