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Q: Which of the following is a characteristic of public goods?
  • A. Inelasticity
  • B. Non-rivalry
  • C. Elasticity
  • D. Excludable
Correct Answer: Option B - The two main criteria that distinguish a public good are–it must be non-rivalrous and non-excludable. Non-rivalrous means that the goods do not dwindle in supply as more people consume them; non-excludability means that the good is available to all citizens.
B. The two main criteria that distinguish a public good are–it must be non-rivalrous and non-excludable. Non-rivalrous means that the goods do not dwindle in supply as more people consume them; non-excludability means that the good is available to all citizens.

Explanations:

The two main criteria that distinguish a public good are–it must be non-rivalrous and non-excludable. Non-rivalrous means that the goods do not dwindle in supply as more people consume them; non-excludability means that the good is available to all citizens.