Which is the best definition of a public good?
A)A benefit that is paid for by the government out of tax dollars collected from the general public
B)A product created by public agencies for the use of all citizens of a country
C)A product that cannot be withheld from anyone and whose use does not prohibit anyone else from enjoying it
D)The supplies that governments provide for infrastructure projects

Question

Quizplus · Accepted Answer

A public good is a product or service that is non-excludable, meaning it cannot be withheld from anyone, and non-rivalrous, meaning its use by one person does not prevent another from enjoying it. Examples include national defense, clean air, and public parks.

Note: Option A describes a benefit that is financed by tax dollars but does not necessarily meet the definition of a public good. Option B is similar, but not all products created by public agencies are public goods. Option D describes supplies for infrastructure, which may or may not be public goods depending on their characteristics.

Which Is the Best Definition of a Public Good