AS Paper 1, June 2022Introduction to Markets and Market Failure
AS Paper 1, June 2022, Q1(a)
What are the characteristics of a private good?
Multiple choice1 mark
Context
Since 2015, the government has invested £74 million on a flood defence scheme in the Calder Valley. The scheme will protect homes, businesses and jobs.
ANon-rivalrous and excludable
BNon-rivalrous and non-excludable
CRivalrous and excludable
DRivalrous and non-excludable