Question

Given below are two statements, one is labelled as Assertion (A) and the other is labelled as Reason (R):
Assertion (A): A club good is non-rival and excludable in consumption.
Reason (R): A public good is non-rival and non-excludable in consumption. 
In the light of the above statements, choose the most appropriate answer from the options given below:

• A. Both (A) and (R) are correct and (R) is the correct explanation of (A)
• B. Both (A) and (R) are correct but (R) is not the correct explanation of (A)
• C. (A) is correct but (R) is not correct
• D. (A) is not correct but (R) is correct

Answer 1

The Correct Option is B

The correct answer is (B) : Both (A) and (R) are correct but (R) is not the correct explanation of (A).