In Economics,the Term "Public Good" Refers to a Product

question 69

Multiple Choice

In economics,the term "public good" refers to a product

• A)that is widely advertised.
• B)that is produced by a publicly owned corporation.
• C)which consumers cannot be excluded from using.
• D)that has a very low marginal cost of production.
• E)that only private producers will provide.

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Definitions:

Indirect Expenses

Costs that are not directly linked to a specific product or service but are necessary for the general operation of a business, such as administration and marketing expenses.

General Benefit

A type of advantage or positive outcome that applies broadly, often in a nonspecific or nonexclusive manner.

Department Manager

An individual responsible for overseeing the operations, staff, and budget of a specific department within an organization.

Square Footage

A measurement of area used primarily in the United States, equal to an area one foot by one foot, commonly used to measure the size of a piece of property or a building.