A good that is available for everyone to consume, regardless of who pays and who doesn't, is called a
A) private good.
B) external good.
C) public good.
D) spillover good.

Question

Quizplus · Accepted Answer

A public good is a good that can be consumed by anyone and nobody can be excluded from its benefits. It is non-excludable, meaning that it is impossible to prevent someone from enjoying its benefits. Moreover, the consumption of the good by one person does not reduce the availability of the good for others - this property is known as non-rivalrous consumption. Examples of public goods include streetlights, national defense, and public parks.

A Good That Is Available for Everyone to Consume, Regardless