Which is a private good?

Question

Quizplus · Accepted Answer

A private good is a product that must be purchased to be consumed and is exclusive to the purchaser. A Wendy's hamburger fits this definition as it can only be consumed by the person who purchased it and others must purchase their own hamburger to consume. The other options are not private goods - a police officer directing traffic is a public good, hiking trails in a national forest are common resources, and free Wi-Fi in an internet hotspot is a club good.

Which Is a Private Good