An example of a private good is
A) national defense.
B) a bottle of perfume.
C) city streets and highways.
D) clean air.

Question

Quizplus · Accepted Answer

A private good is a product or service that can be owned and consumed exclusively by one person or a group of people. A bottle of perfume is an example of a private good because it can be owned and used exclusively by one person, and its use by one person does not diminish its availability or usefulness to others. National defense, city streets and highways, and clean air are examples of public goods because they are non-excludable and non-rivalrous. This means that they cannot be owned or consumed exclusively by one person, and their use by one person can diminish their availability or usefulness to others.

An Example of a Private Good Is