What are the two characteristics that differentiate private goods from public goods?
A) Rivalry and excludability
B) Negative externality and positive externality
C) Marginal cost and marginal benefit
D) Ownership and usage

Question

Quizplus · Accepted Answer

Private goods are rivalrous in consumption, which means that when one person uses a private good, it reduces the amount of that good available for others to use. Private goods are also excludable, meaning that owners of private goods can prevent others from using or accessing them without permission or payment. Public goods, on the other hand, are non-rivalrous and non-excludable.

What Are the Two Characteristics That Differentiate Private Goods from Public