Question

Public goods and services are those that: (pick the best answer) A are sold to the...

Public goods and services are those that: (pick the best answer)

A are sold to the public by private, for-profit firms.

B are provided to the public by the government.

C one can NOT charge for (not excludable) and CAN have two parties consume the same (NOT rival in consumption)

D one can charge for (excludable) and cannot have two parties consume the same (rival in consumption)

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Answer #1

Public goods and services are those which can be consumed equally by two individuals without reducing it for another and there is no charge for it ie the people cannot be excluded from its consumption. Any good which is non rival and non excludable is a public good.

Eg: defence services. If one citizen is being protected, it doesn't imply that others won't be. And everyone irrespective of the fact whether they pay for taxes or not, would be provided by the public good.

Hence answer would be option C)

(You can comment for doubts)

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