Asked by
Gazzella Johnson
on Nov 05, 2024
Verified
An example of a public good is
A) an orange grove.
B) a grocery store.
C) a hardwood forest in a national park.
D) a ticket to a baseball game.
Public Good
A good that is non-excludable and non-rivalrous, meaning it can be used simultaneously by more than one person without reducing its availability to others.
Hardwood Forest
Forests predominantly made up of deciduous trees that lose their leaves annually, known for their dense, high-quality wood.
- Appreciate the role public goods play and the difficulty of reduced production in a free-market environment.
- Identify examples of public goods and their characteristics.
Verified Answer
NS
Learning Objectives
- Appreciate the role public goods play and the difficulty of reduced production in a free-market environment.
- Identify examples of public goods and their characteristics.