Public Goods Are Distinguished by Two Primary Characteristics

question 16

Multiple Choice

Public goods are distinguished by two primary characteristics.What are they?

• A)nonrivalry and nonexcludability
• B)government intervention and low prices
• C)market failure and high prices
• D)rivalry and exclusivity

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Definitions:

Organizations

Structured groups of people who come together to achieve common goals through a division of labor and a hierarchy of authority.

Formal Training Programs

Structured educational initiatives designed to enhance knowledge, skills, and competencies in a professional setting.

Effectiveness

The degree to which something is successful in producing a desired or intended result.

Assessed

The process of evaluating or estimating the nature, ability, or quality of someone or something.