Macro

Government Budget

Easy

Goods or services that are collectively consumed; it is not possible to exclude anyone from enjoying their benefits and one person's consumption does not affect consumption of others. What type of good they are?

Private goods

Merit goods

Social goods

Public goods

✅ Correct Option: 4

Public goods are collectively consumed, non-excludable (no one can be prevented from enjoying them) and non-rivalrous (one person's consumption does not reduce others' consumption), e.g. national defence and public parks. The government must provide them due to market failure.

2023: 30 May Shift 1

Match List - I with List - II.

List - I	List - II
(A) Revenue Receipts	(I) Expense on functions of government
(B) Capital Expenditure	(II) Disinvestment
(C) Capital Receipts	(III) Tax Revenue
(D) Revenue Expenditure	(IV) Expenses on building and machinery

Choose the correct answer from the options given below :

2026: 11 May Shift 2

Identify Capital Receipt from the following:

2026: 15 May Shift 1

The Proportional Income Tax, acts as an __________, a shock absorber because it makes disposable income, and thus consumer spending purposes less sensitive to fluctuation in GDP.

2022: 15 July Shift 2

Rs.60000 crore allocated to provide tap water connection to 3.8 crore household. Provision of tap water by the government is an example of:

2025: 28 May Shift 2

Which one attracts both GST and Central Excise Duty?

2026: 31 May Shift 1

The intervention of the government whether to expand demand or reduce it constitutes which of the following function.

Goods or services that are collectively consumed; it is not possible to exclude anyone from enjoying their benefits and one person's consumption does not affect consumption of others. What type of good they are?

Solution

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