A good that is neither rival nor exclusive is called
A)a private good
B)a public good
C)a quasi-private good
D)an external good
E)an open access good

Question

Quizplus · Accepted Answer

A public good is a good that is neither rival nor exclusive. Rivalry means that the consumption of the good by one individual reduces the amount available for consumption by another individual. Exclusivity means that those who do not pay for the good cannot enjoy its benefits. Public goods, such as national defense and street lighting, are non-rival and non-exclusive.

A Good That Is Neither Rival nor Exclusive Is Called