Question:
Identify, which of the following does not represent a public good. (Choose the correct option)
Identify, which of the following does not represent a public good. (Choose the correct option)
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Public goods typically include services like defense, public health (e.g., vaccines), and street lighting, which are available to everyone without exclusion.
Updated On: Jun 30, 2025
- Free vaccines provided by the government
- Defence services provided by the military
- Purchase of railway ticket by an individual
- Street light installed by a city municipality
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The Correct Option is C
Solution and Explanation
Public goods are characterized by non-excludability and non-rivalry. This means that once the good is provided, everyone can access it without reducing its availability to others. The purchase of a railway ticket by an individual is a private transaction and involves both excludability and rivalry, meaning it does not represent a public good.
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