Asked by
Austin Riedel
on Nov 17, 2024Verified
It is commonly argued that national defense is a public good. Nevertheless, the weapons used by the U.S. military are produced by private firms. We can conclude that
A) resources would be used more efficiently if the government produced the weapons.
B) resources would be used more efficiently if private firms provided national defense.
C) weapons are rival in consumption and excludable, but national defense is not rival in consumption and not excludable.
D) national defense is rival in consumption and excludable, but weapons are not rival in consumption and not excludable.
National Defense
Activities and measures taken by a government to protect its country from external threats and ensure national security.
Rival In Consumption
A feature of a quality good where if one person consumes it, others cannot consume it at the same time.
- Comprehend the principle of public goods, encompassing the issue of free-riding and its consequences on the supply of public services.
- Evaluate the distinguishing features of goods to classify them into private, public, club, and common resources respectively.
Verified Answer
EA
Learning Objectives
- Comprehend the principle of public goods, encompassing the issue of free-riding and its consequences on the supply of public services.
- Evaluate the distinguishing features of goods to classify them into private, public, club, and common resources respectively.
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