A public good is a good that:
A. when consumed by one individual, can still be consumed by others.
B. is available only to those people who help to pay for it.
C. is owned by the public.
D. when consumed by one individual, cannot be consumed by another.
Answer: A
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A few decades ago, there were hardly any Subway restaurants in India. Now, they are present in almost every big city. This is an outcome of:
A) fair trade union practices. B) traditionalism. C) the protectionist policies adopted by the Indian government. D) globalization.
When it is cheaper for one firm to produce a particular product, ____ exist(s).
A. economies of scale B. economies of scope C. diminishing marginal returns D. cross-subsidization
An electronics company takes over one of its original suppliers in a merger. This is an example of:
A. vertical integration. B. cointegration. C. conglomerate integration. D. horizontal integration.
Excludability means that when someone is consuming a good, then others are excluded from using the good anymore.
a. true b. false