The good for which the characteristics of exclusion and rivalry in consumption do not apply is referred to as a:
A)public good.
B)common resource.
C)inferior good.
D)normal good.

Question

Quizplus · Accepted Answer

A public good is characterized as non-exclusionary and non-rivalrous. This implies that once the good is provided to one person, it is available for all individuals to consume without diminishing its availability or quality. Public goods aim to benefit society as a whole, and can often be provided by a public entity or the government.

The Good for Which the Characteristics of Exclusion and Rivalry