Which of the following is a classic example of a public good?

Multiple choice question for Market. Select an option, then review the explanation below.

Explanation

Public goods are characterized by being non-excludable and non-rivalrous. National security fits this description well, as it benefits all citizens without reducing availability to others. In contrast, public transport, healthcare, and rail services can exclude users or become congested.

Practice related questions from the same subject.

1.Broadcasting firms use satellite TV subscriptions and signal detection tools primarily to combat which issue?
2.Which of the following factors can lead to market failure?
3.When a neighbor burns yard debris and smoke enters your home, what type of externality does this represent?
4.Why is a competitive equilibrium considered Pareto efficient?
5.Within the insurance sector, individuals who pose a greater risk tend to purchase insurance more frequently. What concept does this illustrate?

Which of the following is a classic example of a public good?

Explanation

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