What is meant by 'Public Good'?

Question

YESPYQ · Accepted Answer

Correct answer: b) A commodity whose benefits are indivisibly spread among the entire community.. Key Points- Public good are the type of goods whose benefits are spread among the entire community and are provided free of cost by the government. Explanation- Public goods are provided by the government free of cost for the welfare of the public at large. These goods are also called collective or social goods. People cannot be stopped from using them just because they failed to pay for them, i.e, these goods are both are non- excludable and non-rivalrous. Hence the correct option is ‘b’ i.e, a commodity whose benefits are indivisibly spread among the entire community.

What is meant by 'Public Good'?

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