A public good is:
A)a good or service for which it is relatively easy to exclude nonpaying customers from consumption.
B)a good or service that can be consumed by both the paying and the nonpaying customers.
C)any good or service that is produced by the government.
D)any good or service that is consumed by private individuals and financed by private contributions.
E)a good or a service that is produced by public sector companies.

Question

Quizplus · Accepted Answer

A public good is a good or service that can be consumed by both the paying and the nonpaying customers, without reducing its availability to others. It is difficult to exclude nonpaying customers from consumption, making it a non-excludable good. Examples include national defense, street lighting, and public parks.

A Public Good Is