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Which of the following best describes the difference between individual and public goods?

  • Question 10c of 10 - Types of goods

  • Maximum Attempts: 1
  • Question Type: Multiple Choice
  • Maximum Score: 2
  • Question: Which of the following best describes the difference between individual and public goods?
  • Answers:
  1. The usability of individual goods is never reduced while the usability of public goods declines because of free riders.
  2. People cannot be excluded from using public goods while they can be excluded from using individual goods.
  3. Individual goods are always normal while public goods may be normal or inferior.
  4. Demand for public goods is inelastic while demand for individual goods is elastic.

The correct answer is: People cannot be excluded from using public goods while they can be excluded from using individual goods. Public goods are non-excludable because the public can enjoy them without paying.

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