Public goods are both
A)excludable and nonrival in consumption.
B)nonexcludable and rival in consumption.
C)excludable and rival in consumption.
D)nonexcludable and nonrival in consumption.

Question

Quizplus · Accepted Answer

Public goods are those goods that are nonexcludable and nonrival in consumption. Nonexcludable means that it is impossible or very expensive to prevent anyone from benefiting from the good, even if they do not pay for it. Nonrival means that one person's consumption of the good does not reduce the amount available for others to consume. Examples of public goods include clean air, national defense, and streetlights.

Public Goods Are Both