A Public Good May Be Defined as Any Good or Service

question 38

Multiple Choice

A public good may be defined as any good or service that:

• A) must be provided only to certain groups.
• B) must be distributed to all citizens in equal shares.
• C) excludes free riders.
• D) is not exclusive.

---

Definitions:

Commission

A fee paid to an agent or employee for transacting a piece of business or performing a service, typically a percentage of the sale.

360-Day Year

An accounting convention that uses 360 days in a year for calculating interest on loans and other financial instruments.

Commission

A service charge assessed by a broker or agent for providing assistance in the execution of a transaction.

Accrued Interest

Interest that has been earned but not yet paid.