A private good:
A) is a good for which consumption involves perfect rivalry.
B) is completely nonexcludable.
C) is often provided by the government.
D) imposes a negative externality when it is consumed by any one individual.

Question

Quizplus · Accepted Answer

A private good is a type of good for which consumption involves perfect rivalry. This means that when one person consumes the good, it reduces the amount available for others to consume. The classic example of a private good is a hamburger - if one person eats a hamburger, there is one less hamburger available for others to eat.

A Private Good