The Two Main Characteristics of a Public Good Are

question 176

Multiple Choice

The two main characteristics of a public good are

• A) production at constant marginal cost and rising demand.
• B) nonexcludability and production at rising marginal cost.
• C) nonrivalry and nonexcludability.
• D) nonrivalry and large negative externalities.

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Definitions:

Signs

Symbols that stand for or convey an idea.

Symbolic Culture

The aspect of culture that includes nonmaterial cultural elements such as beliefs, practices, values, and symbols that have meaning and significance in society.

Material Culture

The physical objects, resources, and spaces that people use to define their culture, including buildings, artwork, tools, and clothing.

Ideal Culture

The values, norms, and behaviors that a society or group considers desirable and strives towards, often in contrast to real culture.