Which of the following would be considered a private good?
A)a ferry boat ride to an island with open seating
B)a public beach
C)fish in the ocean
D)a swimming suit

Question

Quizplus · Accepted Answer

A private good is a good that is both excludable and rivalrous in consumption. A swimming suit is excludable, as access to it can be limited to those who purchase it, and it is rivalrous in consumption, as wearing it takes away from its availability to others. The other options do not fit this definition, as a ferry boat ride could be considered excludable but not rivalrous (if there is open seating), a public beach is non-excludable and non-rivalrous, and fish in the ocean are non-excludable and rivalrous.

Which of the Following Would Be Considered a Private Good