Asked by Yvette Casarrubias on Jun 20, 2024
Verified
Among the following examples, the one that best illustrates a public good is the
A) laptops used by students in a college or university.
B) movies produced by Hollywood companies.
C) bike paths around a city or town.
D) airline tickets bought by vacationers.
Public Good
Products or services accessible to all people within society at no expense, made possible by the government or by private groups or individuals, not for the purpose of financial gain.
Bike Paths
Designated routes or tracks exclusively for bicycles, providing a safe space for cyclists away from motor vehicle traffic.
- Comprehend the meaning, instances, and attributes of public goods.
Verified Answer
MV
Maryam VahdatiJun 23, 2024
Final Answer :
C
Explanation :
Bike paths around a city or town are the best example of a public good because they are non-excludable and non-rivalrous, meaning that anyone can use them without reducing the availability for others. Laptops (A) are excludable and may be limited in quantity, movies (B) are excludable and require payment to access, and airline tickets (D) are both excludable and rivalrous in the sense that each person who purchases a ticket takes up a seat, reducing availability for others.
Learning Objectives
- Comprehend the meaning, instances, and attributes of public goods.