Question: Which Is An Example Of A Public Good Select One: A. A Rock Band B. A Car C. The Army D. Bread?

Which of the following is a public good?

A public good is one that is non rival in consumption (can be consumed by everyone at the same time) and nonexcludable (no one can be easily excluded from consuming the good ). Clean air meets both conditions, so it is a public good. Public goods are characterized by: rivalry in consumption.

Which of the following would be an example of a public good quizlet?

An example of a public good is: national defense. An economist would be most likely to argue that U.S. national defense should be funded through tax revenues because: individuals who refuse to contribute to a national defense fund cannot be excluded from benefiting from national defense.

What is public goods in economics?

In economics, a public good refers to a commodity or service that is made available to all members of a society. Typically, these services are administered by governments and paid for collectively through taxation. Examples of public goods include law enforcement, national defense, and the rule of law.

You might be interested:  Question: What Rock Band Was The First To Have A Billboard At The Famous Hollywood And Vine Intersection?

Which statement best describes a public good?

The benefit to the public is worth the cost to government. Explanation: This is the statement that best describes a public good. A public good is a non-excludable (no one can be excluded from using it) and non-rivalrous (use by one person does not reduce the availability of it for others) good.

What is a pure public good example?

Examples of public goods include fresh air, knowledge, lighthouses, national defense, flood control systems, and street lighting. Pure public goods are those that are perfectly non-rivalrous in consumption and non-excludable. Impure public goods are those that satisfy the two conditions to some extent, but not fully.

What are the 4 types of goods?

The four types of goods: private goods, public goods, common resources, and natural monopolies.

Which is the best example of a free rider?

A free rider is a person who benefits from something without expending effort or paying for it. Examples of public goods include:

  • National defense.
  • Fresh air.
  • Lighthouses.
  • Street lighting.

Which of the following is an example of a public service?

public safety- Health services, emergency management, disaster response, and firefighting, these jobs and more are in the realm of public safety. Education- Teaching in a public school, including a university, is considered public service.

Which of the following is an example of a common good?

Examples of particular common goods or parts of the common good include an accessible and affordable public health care system, an effective system of public safety and security, peace among the nations of the world, a just legal and political system, an unpolluted natural environment, and a flourishing economic system

You might be interested:  Quick Answer: Which Rock Band Sings Wonderful?

What are the characteristics of public goods and private goods?

Difference and Comparison

Basis Public Goods Private Goods
Consumer equality Rich and poor are treated equally Preference to rich consumers
Availability Readily available to all Reduces with each consumption
Quality Remains constant Varies with ability to buy
Decision Social choice Consumer’s decision


Why public goods are important?

Public goods are important because they are designed to be available to the public in general and possess specific qualities that prevent individuals or groups from being unable to access them. They also must be able to withstand use without then becoming unavailable to future users.

Is water a public good?

In general, water is both a private good and a public good. When water is being used in the home, in a factory or on a farm, it is a private good. When water is left in situ, whether for navigation, for people to enjoy for recreation, or as aquatic habitat, it is a public good.

Is Internet a public good?

27 Aug 2017 The INTERNET is a public good ARTICLE 19 delivered the following statement at the 35th Session of the UN Human Rights Council (HRC) on 14 June 2017. One year ago, the UN Human Rights Council reaffirmed that “the same rights that people have offline must also be protected online.”

Is Mosquito control a public good?

The mosquito control program is an example of a public good. Both radio and television broadcasts are public goods.

Are roads a public good?

One conclusion is that roads are never public goods in a Samuelson (1954, 1955) sense. This answer may be surprising, since highways and roads are frequently cited as “important examples of production of public goods,” ( Samuelson and Nordhaus 1985: 48-49).

Leave a Comment

Your email address will not be published. Required fields are marked *