A Public Good Is

question 253

Multiple Choice

A public good is

• A)a good deed done by someone who refuses payment.
• B)something produced as sold by the government,for example,electricity provided by the Tennessee Valley Authority.
• C)something whose consumption by one person does not prevent its consumption by other people.
• D)something that is good for our country,but not necessarily for private individuals.

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Definitions:

Producers

Entities or individuals involved in the creation of goods or services for the market.

Deadweight Loss

The loss of economic efficiency when the equilibrium outcome is not achievable or not achieved.

Excise Tax

A tax directly levied on certain goods, such as alcohol and tobacco, by a government entity.

Transactions

The process of exchanging goods, services, or financial instruments between parties.