ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Nonrivalrous means that one consumer´s use does not inhibit the consumption by others. Following to the letter the previous definition, the public transportation can not be considered a public good for these reasons: • To use a vehicle of public transportation you have to pay a ticket, it means that is not a free good.

Detailed explanation-2: -Examples of public goods include law enforcement, national defense, and the rule of law. Public goods also refer to more basic goods, such as access to clean air and drinking water.

Detailed explanation-3: -Benefits of public transport you don’t have to worry about finding a parking space. it reduces congestion in towns and cities. using public transport is cheaper than owning and operating a car.

Detailed explanation-4: -Examples of public goods are education, infrastructure, lighthouses, flood control systems, knowledge, fresh air, national security, official statistics, etc. Electricity is not a public good, it’s a private good.

Detailed explanation-5: -The types of public goods include security, education, knowledge, infrastructure, environment and health.