Which of the following is most likely a private good?

Question

Quizplus · Accepted Answer

Private goods are those that can be owned by individuals and are exclusive, meaning consumption by one person reduces the availability for others. Cars fit this definition as they are privately owned and can only be used by one individual at a time.

National defense, sidewalks, and the administration of justice are not private goods as they are non-excludable and non-rivalrous. National defense and the administration of justice are public goods, as they benefit everyone in society and cannot be consumed exclusively by any individual. Sidewalks are a common resource as they are open to use by everyone, but overuse can lead to depletion and congestion.

Which of the Following Is Most Likely a Private Good