The best example of a private good, exchanged in competitive markets and for which exclusion is possible, is:
A) an automobile.
B) public education.
C) national defense.
D) law enforcement.

Question

Quizplus · Accepted Answer

An automobile is a good that is privately owned and exchanged in competitive markets, such as when buying or leasing a car from a dealership. It is also a good for which exclusion is possible, as one can choose to not allow others to use their car. Public education, national defense, and law enforcement are all examples of public goods, which are not privately owned and cannot be easily excluded from use.

The Best Example of a Private Good, Exchanged in Competitive