Match the LIST-I with LIST-II
LIST-I LIST-II A. Public Good I. Excludable and Rivalary B. Private Good II. Beneficial and detrimental effects of one economic unit upon other C. Externality III. Non-excludable and Non-rivalary D. Mixed economy IV. Co-existence of public sector and private sector
Choose the correct answer from the options given below:
Match the LIST-I with LIST-II
| LIST-I | LIST-II | |
|---|---|---|
| A. Public Good | I. | Excludable and Rivalary |
| B. Private Good | II. | Beneficial and detrimental effects of one economic unit upon other |
| C. Externality | III. | Non-excludable and Non-rivalary |
| D. Mixed economy | IV. | Co-existence of public sector and private sector |
Choose the correct answer from the options given below:
Solution
✅ Correct Option: 1
A public good is non-excludable and non-rival (A-III); a private good is excludable and rival (B-I); an externality is the beneficial/detrimental effect of one economic unit on another (C-II); a mixed economy is the co-existence of public and private sectors (D-IV).
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