SSC Economics Sample Paper NCERT Sample Paper-2

  • question_answer
    What do you understand by public goods:
    1. Those goods which belong to the entire community.
    2. Defence is an example of public goods.
    Which of these statements is/are correct?

    A) Only 1  

    B) Only 2

    C) Both 1 and 2     

    D) neither 1 nor 2

    Correct Answer: C

    Solution :

    A product that one individual can consume without reducing its availability to another individual and from which no one is excluded. Economists refer to public goods as "non-rivalrous" and "non-excludable". National defense, sewer systems, public parks and basic television and radio broadcasts could all be considered public goods.

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