A Public Good Is a Good

question 105

Multiple Choice

A public good is a good:

• A)whose consumption is nonexcludable and nonrival.
• B)for which the marginal cost of adding another consumer is high.
• C)that the market will usually provide efficiently.
• D)whose consumption is rival.

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Definitions:

Permanent Record

A comprehensive and enduring documentation of an individual's or entity's history, actions, or achievements, often used in educational or organizational contexts.

Geodemographic

Relating to the study of the population and the distribution patterns according to geographic locations and demographic factors.

Psychographic

Relating to the study of personality, values, opinions, attitudes, interests, and lifestyles.

Cognitive

Relating to the mental processes of perception, memory, judgment, and reasoning.