MANAGEMENT

Detailed explanation-1: -Public goods are commodities or services that benefit all members of society, and which are often provided for free through public taxation. Public goods are the opposite of private goods, which are inherently scarce and are paid for separately by individuals.

Detailed explanation-2: -The government plays a significant role in providing goods such as national defence, infrastructure, education, security, and fire and environmental protection almost everywhere. These goods are often referred to as “public goods”.

Detailed explanation-3: -The public sector, also called the state sector, is the part of the economy composed of both public services and public enterprises.

Detailed explanation-4: -Answer and Explanation: No, not all goods, provided by the government are public goods. Public goods in competitive market may create market failures because of free riding and externality problems. Hence, these goods are provided, mainly, by government.

Detailed explanation-5: -Cable television is an example of a club good because it can be consumed or possessed by multiple users at the same time but it is excludable-some people are restricted from watching cable television.