Question
Download Solution PDFWhich of the following is/are an example of public goods?
a) Defense
b) House
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFThe correct answer is Only a.
Key Points
- A public good is a commodity or a service provided to the Citizen without any intention of making a profit out of it.
- Electricity is not provided free. People pay for the service or the unit of electricity they consume.
- National Defence, Light House, and Public Parks are examples of Public goods as people are not charged for them by the government.
- Public goods are non-excludable, individuals may benefit without contributing to their provision, leading to the "free rider problem." This can result in underfunding and insufficient supply of these goods.
Additional Information
| Type of Goods | Characteristics | Examples |
|---|---|---|
| Public Goods | - Non-excludable - Non-rivalrous |
National defense, public parks, street lighting |
| Private Goods | - Excludable - Rivalrous |
Food, clothing, electronics |
| Mixed Goods | - Some aspects are non-excludable - Some aspects are rivalrous |
Education, healthcare, public transportation |
Last updated on Jul 10, 2025
-> The Staff selection commission has released the SSC CHSL Notification 2025 on its official website on 23rd June 2025.
-> The SSC CHSL Apply Online 2025 has been started and candidates can apply online on or before 18th July.
-> The SSC has released the SSC CHSL exam calendar for various exams including CHSL 2025 Recruitment. As per the calendar, SSC CHSL Application process will be active from 23rd June 2025 to 18th July 2025.
-> The SSC CHSL is conducted to recruit candidates for various posts such as Postal Assistant, Lower Divisional Clerks, Court Clerk, Sorting Assistants, Data Entry Operators, etc. under the Central Government.
-> The SSC CHSL Selection Process consists of a Computer Based Exam (Tier I & Tier II).
-> To enhance your preparation for the exam, practice important questions from SSC CHSL Previous Year Papers. Also, attempt SSC CHSL Mock Test.
-> The UGC NET Exam Analysis 2025 for the exam conducted on June 25 is out.