The term public good refers to a good or service that:
A) results in income and profit.
B) is free and portable.
C) has a value of zero.
D) exhibits nonrival consumption and nonexcludability.

Question

Quizplus · Accepted Answer

A public good is a good or service that is nonrival in consumption, meaning that one person's use of it does not diminish its availability to others, and nonexcludable, meaning that it is difficult or impossible to exclude someone from benefiting from it. Examples include national defense, public parks, and street lighting. Public goods do not necessarily have a value of zero and may or may not result in income and profit.

The Term Public Good Refers to a Good or Service