A public good is:
A)a good or service for which it is relatively easy to exclude nonpaying customers from consumption.
B)a good or service that is consumed by both the paying and nonpaying customers.
C)any good or service that is produced by the government.
D)a good or service that is consumed by private individuals and financed by private contributions.

Question

A public good is:
A)a good or service for which it is relatively easy to exclude nonpaying customers from consumption.
B)​a good or service that is consumed by both the paying and nonpaying customers.
C)any good or service that is produced by the government.
D)a good or service that is consumed by private individuals and financed by private contributions.

Quizplus · Accepted Answer

A public good is defined as a good or service that is non-excludable, meaning that it is difficult or impossible to exclude people from using it, and non-rivalrous, meaning that one person's use of it does not prevent others from using it. Therefore, it is consumed by both paying and nonpaying customers.

A Public Good Is