Asked by
devon starling
on Nov 25, 2024
Verified
A public good
A) can be profitably produced by private firms.
B) is characterized by rivalry and excludability.
C) produces no positive or negative externalities.
D) is available to all and cannot be denied to anyone.
Public Good
A product that is non-excludable and non-rivalrous in consumption, meaning its use by one individual does not reduce its availability to others.
Excludability
A characteristic of a good or service that allows owners or producers to prevent others from using it without permission.
- Gain familiarity with the concept, illustrations, and qualities of public goods.
- Acquire knowledge about the economic ideas of nonrivalry and nonexcludability related to public goods.
Verified Answer
SL
Learning Objectives
- Gain familiarity with the concept, illustrations, and qualities of public goods.
- Acquire knowledge about the economic ideas of nonrivalry and nonexcludability related to public goods.