A public good is a product that is
A)produced by the government.
B)excludable but nonrivalrous.
C)nonexcludable and nonrivalrous.
D)rivalrous but nonexcludable.
E)excludable and rivalrous.

Question

Quizplus · Accepted Answer

A public good is a product that is nonexcludable, meaning that it cannot be withheld from those who do not pay for it, and nonrivalrous, meaning that one person's use of the good does not reduce its availability to others. Examples of public goods include national defense, public parks, and streetlights. Public goods are often provided by the government because they are difficult to produce and regulate through market mechanisms.

A Public Good Is a Product That Is