Which one of the following is an example of a collective good?Group of answer choicesa barbecuea fireworks displaya public roada bookstore
Question
Which one of the following is an example of a collective good?Group of answer choicesa barbecuea fireworks displaya public roada bookstore
Solution
The example of a collective good from the given options is a fireworks display.
Here's why:
A collective good, also known as a public good, is a good that is non-excludable and non-rivalrous. This means that no one can be prevented from using it and one person's use does not reduce its availability to others.
a) A barbecue is not a collective good because it is both excludable and rivalrous. If you're not invited to the barbecue, you can be excluded from it. Also, the more people eat, the less food there is available for others.
b) A fireworks display is a collective good because it is both non-excludable and non-rivalrous. Anyone can watch a fireworks display and one person watching it doesn't prevent others from doing so.
c) A public road could be considered a collective good, but it can become rivalrous when it gets congested. The more people use it, the less efficient it becomes for others
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