Which of the following best defines a public good?
A) A public good is available for anyone to utilize, regardless on who pays and who doesn't.
B) A public good is a good that uses public funds to finance its production.
C) A public good is a good that is sold to other people in the market.
D) A public good is a good that requires government approval before it can be produced.

Question

Quizplus · Accepted Answer

A public good is a good that is non-excludable and non-rivalrous, meaning that it is available for anyone to use and its use by one person does not diminish its availability for others. It does not necessarily have to be financed by public funds or require government approval.

Which of the Following Best Defines a Public Good