A Public Good Can Be Best Defined as One That

question 10

Multiple Choice

A public good can be best defined as one that:

• A)has no externality associated with its production or consumption.
• B)entails rising costs of production.
• C)yields widespread benefits which cannot readily be denied to the public at large.
• D)yields benefits only to individuals who decide to buy it.

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Definitions:

Health Club

A facility offering physical fitness services, equipment, and various health and wellness activities to its members.

Service Business

A service business is a company that provides intangible products or services to consumers, as opposed to selling physical goods.

Business Entities

Organizations that are formed to conduct business and engage in transactions, structured in various forms such as partnerships, corporations, and sole proprietorships, distinguished legally and financially from their owners.

Proprietorship

A type of business entity owned and operated by one individual, where there is no legal distinction between the owner and the business.