Which of the following would be considered a free good?
A)Fresh water.
B)Forests in the northwestern United States.
C)The advice of economists.
D)All the above.
E)None of the above.

Question

Quizplus · Accepted Answer

A free good is one where the supply is not diminished when consumed and no opportunity cost is involved. Fresh water, forests, and the advice of economists do not meet these criteria as they are all limited in supply and have opportunity costs associated with their use or provision.

Which of the Following Would Be Considered a Free Good