Which of the following is a nonmarket good?
A) the corn you grow in your home garden and consume
B) the clothes you sew and sell to a neighbor who pays you by writing you a check
C) the self-portrait hanging in your den
D) a and c
E) a,b,and c

Question

Quizplus · Accepted Answer

A nonmarket good is a good that is not sold in the marketplace and therefore does not have a price. The corn you grow in your home garden and consume and the self-portrait hanging in your den are examples of nonmarket goods because they are not sold in the marketplace and do not have a price. The clothes you sew and sell to a neighbor, however, are a market good because they are sold in the marketplace and have a price.

Which of the Following Is a Nonmarket Good