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.You need to login to perform this action.
You will be redirected in
3 sec