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- Subject
- Public Goodseconomics-mcqs › public-goods
- Published
- 1 Jun 2019
- Last updated
- 28 May 2026
Explanation
A private good is characterized by being both rivalrous, meaning one person's consumption reduces availability for others, and excludable, meaning access can be limited to paying customers.
More Public Goods MCQs
Practice related questions from the same subject.
- 1.What term describes a good from which individuals can be prevented from accessing or using it?
- 2.Which of the following best illustrates a common resource?
- 3.Which type of good is impacted by a negative externality in a way that reduces market efficiency?
- 4.Which type of good does a positive externality influence market efficiency similarly to?
- 5.Who is described as a free rider in economic terms?
- 6.Why do private markets struggle to supply public goods effectively?
- 7.How would you classify a product supplied by a natural monopoly in terms of rivalry and excludability?
- 8.Which of the following best describes a public good?
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