What is an example of a private good
A)Internet service
B)regional weather alerts
C)fish in the ocean
D)a milkshake

Question

Quizplus · Accepted Answer

A private good is a product or service that is exclusive and can only be consumed by a single user or group. A milkshake is a good example of a private good because it is consumed by an individual or a small group and cannot be shared with others without reducing its value. Internet service (A) and regional weather alerts (B) are examples of public goods that can be consumed by many people at once. Fish in the ocean (C) are common resources that are available to all and not owned by any individual or group.

What Is an Example of a Private Good