Answered

Discover a wealth of knowledge at Westonci.ca, where experts provide answers to your most pressing questions. Connect with a community of experts ready to provide precise solutions to your questions on our user-friendly Q&A platform. Explore comprehensive solutions to your questions from a wide range of professionals on our user-friendly platform.

Unlike a private good, a public good Group of answer choices has no opportunity costs. is characterized by rivalry and excludability. has benefits available to all, including nonpayers. produces no positive or negative externalities.

Sagot :

Lanuel

Answer:

has benefits available to all, including nonpayers.

Explanation:

A product can be defined as any physical object or material that typically satisfy and meets the demands, needs or wants of customers. Some examples of a product are mobile phones, television, microphone, microwave oven, bread, pencil, freezer, beverages, soft drinks etc.

Generally, there are two (2) main types of product (good) and these includes;

I. Private goods.

II. Public goods.

A public good such as power utility (electricity) or water supply is capable of being provided simultaneously to the general public.

Furthermore, a public good is non-excludable and cannot be exhausted due to its use by the general public i.e it's never depleted.

Hence, unlike a private good, a public good has benefits available to all of the population, including nonpayers who might just be window shopping.

Thanks for stopping by. We strive to provide the best answers for all your questions. See you again soon. We hope this was helpful. Please come back whenever you need more information or answers to your queries. Thank you for visiting Westonci.ca, your go-to source for reliable answers. Come back soon for more expert insights.