A commodity or service whose consumption by one person does not preclude others from also consuming it is called a
A) private good.
B) public good.
C) Giffen good.
D) Coase good.

Question

Quizplus · Accepted Answer

A public good is defined as a commodity or service that is non-excludable and non-rivalrous, meaning that its consumption by one individual does not reduce its availability for others to consume. Examples of public goods include street lighting, national defense, and public parks.

A Commodity or Service Whose Consumption by One Person Does