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What is the main difference between public goods and private goods? - Economics

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Question

What is the main difference between public goods and private goods?

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Solution

The main difference between public goods and private goods is that public goods are available to everyone, while private goods are consumed by the person or people who pay for them.

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Chapter 3: Basic Concepts of Economics - QUESTION BANK [Page 52]

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J. P. Goel and Kaushal Goel Economics [English] Class 9 ICSE
Chapter 3 Basic Concepts of Economics
QUESTION BANK | Q 24. | Page 52
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