Which example is considered a private good?
A) traffic lights
B) mountain bike trails in a provincial park
C) a fast-food cheeseburger
D) cell phone service

Question

Quizplus · Accepted Answer

A private good is one that is both excludable and rival. A fast-food cheeseburger fits this criteria because it can be exclusively consumed by one person and once consumed, it cannot be consumed by someone else. The other options are either public goods (like traffic lights) or common-pool resources (like mountain bike trails in a provincial park) where consumption by one person doesn't prevent consumption by others. Cell phone service may be excludable, but it's not always rival since multiple people can use the same tower or network infrastructure at the same time.

Which Example Is Considered a Private Good