Your instructor decides to give the class one very hard exam question.The entire class may work together to answer the question because the instructor just wants the correct answer; she does not care how the class arrives at the answer or who contributes to answering the question.The final answer that is submitted will be graded, and all students will receive the same grade.In one sense, the exam grade is a __________ because all students will benefit and cannot be denied a grade, regardless of their individual contributions to answering the question.

Question

Quizplus · Accepted Answer

This scenario describes a public good, which is defined as a good or service that is non-excludable (meaning that people cannot be prevented from using or benefiting from it) and non-rivalrous (meaning that the use of the good by one person does not reduce its availability to others). In this case, the entire class can benefit from the correct answer to the exam question, regardless of individual contributions or efforts.

Your Instructor Decides to Give the Class One Very Hard