Which of the following is most likely to be a private good?
A) Road
B) Bicycle
C) Park
D) City fireworks display

Question

Quizplus · Accepted Answer

A private good is a product or service that can be consumed by a single person or a limited group of people who pay for it. A bicycle is most likely to be a private good as it can be owned by a single person or a limited group of people who have paid for it. The other options, such as a road, park, or city fireworks display, are public goods that can be accessed and enjoyed by a large number of people without explicitly paying for them.

Which of the Following Is Most Likely to Be a Private