The Primary Difference Between Private Goods and Public Goods Is

question 116

Multiple Choice

The primary difference between private goods and public goods is that

• A)private goods are consumed by private individuals whereas public goods are not consumed by private individuals.
• B)private goods often yield externalities but public goods do not.
• C)property rights can be assigned to public goods but not to private goods.
• D)public goods are nonrivalrous in consumption whereas private goods are rivalrous in consumption.

---

Definitions:

P-value

A statistic that measures the probability of obtaining test results at least as extreme as the results actually observed, assuming that the null hypothesis is correct.

Annual Income

The total amount of income earned over a year from work, business, investments, or other sources.

Level of Education

Refers to the ultimate stage of formal learning or highest degree obtained by an individual.

Test Scores

Quantitative measures reflecting the performance or results achieved by a person on an examination or test.