How are public goods characterized?
A) They exclude nonpayers.
B) They have nonrivalry in consumption.
C) They have exclusive property rights.
D) They have rivalry in consumption.

Question

Quizplus · Accepted Answer

Public goods are characterized by nonrivalry in consumption, meaning that one person's use of the good does not diminish another person's ability to use the same good. This is in contrast to private goods, which are characterized by rivalry in consumption. The other choices are incorrect: public goods are non-excludable (meaning nonpayers can still benefit from them) and do not have exclusive property rights.

How Are Public Goods Characterized