What is a "public good"?

A Any good sold publicly

B A good that is non-excludable and non-rivalrous

C Government-owned property

D A good with high demand

✓ Correct Answer: Option B

Public goods are non-excludable (can't prevent people from using them) and non-rivalrous (one person's use doesn't reduce availability).

💡 Why is B) the correct answer?

The correct answer to the question "What is a "public good"?" is Option B: A good that is non-excludable and non-rivalrous.

The other options — A) Any good sold publicly, C) Government-owned property, D) A good with high demand — are incorrect for this IB Exam Prep question. As explained above: Public goods are non-excludable (can't prevent people from using them) and non-rivalrous (one person's use doesn't reduce availability).

📚 About This IB Exam Prep Practice Question

This 3-level IB Exam Prep question from the Economics topic is part of BrainForge Quiz's free exam preparation library. Each question includes the correct answer and a detailed explanation to help you understand the underlying concept, not just memorize the answer.

How to use this page: Read the question above, consider all four options (A through D), then check the highlighted correct answer and explanation. For active timed practice, start a free IB Exam Prep practice test or use flashcards for spaced repetition review.

Practice IB Exam Prep Quizzes → Browse All Questions Study Flashcards

What is a "public good"?

✓ Correct Answer: Option B

📚 About This IB Exam Prep Practice Question

Related IB Exam Prep Questions