Asked by Taylor Giardinelli on Jul 19, 2024
Verified
The BEST example of a public good is:
A) a court of law.
B) clothing.
C) food.
D) a state university.
Public Good
A non-excludable and non-rivalrous good that can be consumed by everyone, such as public parks or national defense.
Court of Law
A court of law is a tribunal where disputes are settled, and justice is administered, involving legal proceedings and decision-making by judges or magistrates.
- Understand illustrations of collective goods and perceive the justification for their categorization as such.
Verified Answer
AS
Ashley SpielmannJul 24, 2024
Final Answer :
A
Explanation :
Public goods are non-excludable and non-rivalrous, meaning they are available to all members of society and one person's use does not reduce availability to others. A court of law fits this definition best among the options.
Learning Objectives
- Understand illustrations of collective goods and perceive the justification for their categorization as such.