SSC
GENERAL ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Police protection is an example of a ____ good and apples are an example of a ____ good.
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Public; Private
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Private; Public
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Public; Public
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Private; Private
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Explanation:
Detailed explanation-1: -Examples of private goods include ice cream, cheese, houses, cars, etc. Public goods describe products that are non-excludable and non-rival. That means no one can be prevented from consuming them, and individuals can use them without reducing their availability to other individuals.
Detailed explanation-2: -One of the best examples of a public good is national defense. To the extent one person in a geographic area is defended from foreign attack or invasion, other people in that same area are likely defended also.
There is 1 question to complete.