Question

which of the following is a property of a public good?
o a. users collectively consume benefits.
answered free riders are excluded.
o c. it is established by legislation.
o d. it is determined by positive economics.

Explanation:

Public goods have two key characteristics: non-excludability (free riders cannot be excluded) and non-rivalry (one person's consumption does not reduce availability for others, meaning benefits are consumed collectively by users). Option b is incorrect because free riders cannot be excluded from public goods. Option c is wrong as public goods are not defined by legislative establishment. Option d is incorrect because positive economics describes what is, not a property of public goods.

Answer:

a. Users collectively consume benefits.