Question
Consider the following items in the two tables and
choose the Correct Option. Table A Table B I- National Defence Public Good II- National Highways Private Good III- Government Administration Private Good IV- Clothes Public Good V- Movies Private GoodSolution
The benefits of public goods are available to all and are not only restricted to one particular consumer. For example, if a person eats a chocolate or wears a shirt, these will not be available to others. It is said that this person’s consumption stands in rival relationship to the consumption of others. However, if we consider a public park or measures to reduce air pollution, the benefits will be available to all. One person’s consumption of a good does not reduce the amount available for consumption for others and so several people can enjoy the benefits, that is, the consumption of many people is not ‘rivalrous’.
What is the main purpose of bob FxOne, launched by Bank of Baroda?Â
Which traditional art form from Assam, awarded the Geographical Indication (GI) tag, involves painting on manuscripts made from the bark of the sanchi...
What does 'ESG' stand for?
Which statements correctly describe the Collegium system in India?
(I) The Collegium system is mentioned in the Indian Constitution.
(II) ...
- Where is the new home for the two cheetahs, Pawak and Prabhash, recently relocated in India?
United Nations decelerated India’s growth forecast by how many basis points?
Who was the Prime Minister of New Zealand, who gave the resignation recently?
With which country India has started bilateral trade in rupees?
Recently a Seismological Observatory Centre has been inaugurated in ___?
Who is eligible to benefit from the 'Mukhyamantri Ladli Behna Awas Yojana' in Madhya Pradesh?