A Good That Is Available for Everyone to Consume, Regardless

question 158

Multiple Choice

A good that is available for everyone to consume, regardless of who pays and who doesn't, is called a

• A) private good.
• B) external good.
• C) public good.
• D) spillover good.

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Definitions:

Firefighters

Trained professionals responsible for extinguishing fires, rescuing individuals, and protecting public safety during emergencies.

Open Shop

A workplace where membership in a union is not a requirement for employees to be hired or maintain their positions.

Nonunion Members

Individuals who are employed in a workplace represented by a labor union but choose not to join or associate with the union.

Union

An organization formed by workers in various sectors to negotiate with their employers for better wages, working conditions, and benefits.