Which of the following is an example of a public good?
A. a house
B. public safety
C. a cell phone
D. a car
B. public safety
The correct answer is B. public safety.
To determine which of the options is an example of a public good, we need to understand the characteristics of a public good. A public good is defined as a product or service that is both non-excludable and non-rivalrous.
1. Non-excludable: This means that once the good is provided, it is difficult to exclude anyone from using it. Nobody can be prevented from enjoying the benefits of the good or service, even if they didn't contribute to its production.
2. Non-rivalrous: This means that the consumption of the good by one person does not diminish or reduce the availability of the good for others. In other words, the use of the good by one person does not affect others' ability to use it.
Now let's apply these characteristics to the given options:
A. A house: A house is excludable since you can prevent others from entering it. Therefore, it does not meet the non-excludable criterion for a public good.
B. Public safety: Public safety, such as police and fire protection, is a classic example of a public good. It is non-excludable because everyone benefits from it regardless of their contribution, and it is non-rivalrous because one person's safety doesn't prevent others from also being safe.
C. A cell phone: A cell phone is excludable because you can prevent others from using it. If you only have one cell phone, others cannot use it simultaneously. Therefore, it does not meet the non-excludable criterion for a public good.
D. A car: A car is excludable because you can prevent others from using it. If you own a car, you can choose who can use it. Therefore, it does not meet the non-excludable criterion for a public good.
Based on the characteristics of a public good, the correct answer is B. Public safety.