Public goods are those goods whose consumption does not diminish their availability for others. This means that one person's consumption of a public good does not reduce the amount available for others to consume. Examples of public goods include street lighting, air, and public parks.

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Public Goods

Question 25

Multiple Choice

Public Goods:

A) are goods for a few, by a few and of a few.
B) are goods whose consumption by a few reduces the amount for the rest.
C) are goods whose consumption by one reduces the amount for others.
D) are goods whose consumption by one does not diminish the amount for others.

Correct Answer: