Of the following, the best example of a private good is:
A)a local park.
B)a television program broadcast unscrambled over the airwaves.
C)an outdoor fireworks display.
D)a can of soda.

Question

Quizplus · Accepted Answer

A can of soda is a classic example of a private good because it is both excludable (only one person can consume it at a time) and rival (when one person consumes it, it is no longer available for someone else to consume). The other options are either non-excludable (a local park and an outdoor fireworks display can be enjoyed by anyone) or non-rival (a television program can be watched by multiple people simultaneously).

Of the Following, the Best Example of a Private Good