Question : Which of these is related to public goods?
Option 1: The principle of excludability applies to its consumption.
Option 2: There is a clear link between the producer and consumer, which occurs through the payment process.
Option 3: Its consumption is rivalrous.
Option 4: There is a possibility of free ridership in its consumption.
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Correct Answer: There is a possibility of free ridership in its consumption.
Solution : The correct option is There is a possibility of free ridership in its consumption .
The presence of free ridership in consumption is a characteristic of public goods. Free riders are individuals, or entities that benefit from a public good without paying for it. Since public goods are non-excludable, it is challenging to prevent people from enjoying the benefits even if they don't contribute to the cost of providing the goods.
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