QuestionMay 31, 2025

Something that is deemed beneficial for everyone even though it might not benefit an individual is known as a private good. True False

Something that is deemed beneficial for everyone even though it might not benefit an individual is known as a private good. True False
Something that is deemed beneficial for everyone even though it might not benefit an individual is known as a
private good.
True
False

Solution
4.2(297 votes)

Answer

False Explanation 1. Define Private Good A private good is characterized by being excludable and rivalrous, meaning it benefits individuals directly rather than everyone collectively. 2. Analyze Statement The statement describes something beneficial for everyone, which aligns with a public good, not a private good.

Explanation

1. Define Private Good<br /> A private good is characterized by being excludable and rivalrous, meaning it benefits individuals directly rather than everyone collectively.<br />2. Analyze Statement<br /> The statement describes something beneficial for everyone, which aligns with a public good, not a private good.
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