Which of the following would be classified as a private good?
A)the highway system
B)local fire and police services
C)clothing
D)clean rivers and lakes

Question

Quizplus · Accepted Answer

Private goods are items that can be purchased and consumed by an individual or a group. Clothing is an example of a private good because it can be bought and used by a specific person or group without being shared with others. The highway system, local fire and police services, and clean rivers and lakes are examples of public goods or common resources, as they are available to everyone and cannot be owned or used exclusively by one person or group.

Which of the Following Would Be Classified as a Private