Which of the following would be best classified as a private good?
A) a missile defense system
B) police force
C) radio frequency
D) clothing

Question

Quizplus · Accepted Answer

Clothing is a good that is excludable, meaning that it can be easily limited to certain individuals who have purchased it. It is also rivalrous, meaning that it cannot be consumed by multiple individuals at the same time. Therefore, clothing is considered a private good. The other options are not private goods because they are either non-excludable (missile defense system and radio frequency) or non-rivalrous (police force).

Which of the Following Would Be Best Classified as a Private