A private good
A) Is a good for which consumption involves perfect rivalry
B) Is completely excludable
C) Is often provided by the government
D) A and B

Question

Quizplus · Accepted Answer

A private good is a good that involves perfect rivalry in consumption, meaning that one person's consumption of a good reduces the amount available for others to consume. It is also completely excludable, meaning that it is possible to prevent people who do not pay for the good from accessing it. Private goods are typically not provided by the government, as they are generally provided by private firms in a market economy. Therefore, the correct options are A and B, making option D the correct answer.

A Private Good