Which of the Following Best Defines a Public Good

question 86

Multiple Choice

Which of the following best defines a public good?

• A) A public good is available for anyone to utilize, regardless on who pays and who doesn't.
• B) A public good is a good that uses public funds to finance its production.
• C) A public good is a good that is sold to other people in the market.
• D) A public good is a good that requires government approval before it can be produced.

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Definitions:

Credit Memo

A paper provided by the seller to the buyer, which decreases the total the buyer needs to pay to the seller based on the conditions of a prior bill.

Discount Period

The discount period is the timeframe during which a payment can be made with a discount for early settlement in terms of credit sales.

Merchandise Sold

The total cost of all products sold by a company during a specific period.

Cash Discount

An incentive offered by sellers to buyers for paying an invoice ahead of the scheduled due date.