Which of the following is a defining characteristic of a public good?

Question

Quizplus · Accepted Answer

A defining characteristic of a public good is that it is freely available to everyone once it is produced. This means that one person's consumption of the good does not reduce the amount available for others to consume. Public goods are not necessarily produced or distributed by the government and may be provided by private firms as well. The decision to produce a public good may involve government intervention, but it is not necessarily made through a voting process. Similarly, the purchase of a public good by one government agency from another may happen, but it is not a defining characteristic of public goods.

Which of the Following Is a Defining Characteristic of a Public