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.

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Definitions:

Labour Costs

The total expenditure incurred by employers for the payment of wages, benefits, and taxes associated with the employment of labor.

Constraints

Limitations or restrictions that affect the planning, process, or outcome of a project or operation.

Optimum

The most favorable condition or level for growth, reproduction, or efficiency.

Minimize

The act of making something as small or as insignificant as possible.