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Question : Public goods possess which of the following features in the economy?
I. They are non-rivalrous.
II. They are non-excludable.

Option 1: Only II

Option 2: Only I

Option 3: Neither I nor II

Option 4: Both I and II


Team Careers360 20th Jan, 2024
Answer (1)
Team Careers360 24th Jan, 2024

Correct Answer: Both I and II


Solution : The correct option is Both I and II .

Public goods exhibit two essential characteristics in the economy. Firstly, they are non-rivalrous, meaning that consumption or use of the good by an individual does not diminish its availability to others.

Secondly, public goods are non-excludable, implying that it is challenging to exclude individuals from benefiting once the good is provided.

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