GS 32 2023 IS DEEO 1505-2024 Public good: A good that is non-excludable and non-rivalrous. Non-excludable: Difficult to prevent non-payers from consuming the good. Non-rivalrous: One person's consumption does not prevent others from consuming it.
What is meant by ‘public good’?
Asked in GS 32 2023 IS DEEO 1505 2024 · Topic: Nature of Indian Economy (Role of State in Economic Development (Evolutionary Perspective))
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Answer: B. A commodity benefits of which are invisibly spread among the community
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