Which is the best definition of a public good?
A)A benefit that is paid for by the government out of tax dollars collected from the general public.
B)A product created by public agencies for the use of all citizens of a country.
C)A product that cannot be withheld from anyone and whose use does not prohibit anyone else from enjoying it.
D)The supplies that governments provide for infrastructure projects.
E)A good universally demanded by the public.

Question

Quizplus · Accepted Answer

A public good is a product or service that is non-excludable, meaning that it cannot be withheld from anyone, and non-rivalrous, meaning that the use of the good by one person does not prohibit others from enjoying it. Examples of public goods include clean air, national defense, and streetlights.

Which Is the Best Definition of a Public Good