2015 · Q84
What is meant by Public Good'?
General KnowledgeIndian Economy
- AA commodity produced by the Government
- BA commodity whose benefits are indivisibly spread among the entire community
- CA Government scheme that benefits the poor households
- DAny commodity that is very popular among general public
Explanation
A public good is defined by non-excludability and non-rivalry: its benefits are indivisibly spread across the entire community, as with street lighting or national defence. Merely being produced by the government, being a welfare scheme, or being popular does not make a commodity a public good in the economic sense. Hence B.