Chapter 76, Problem 3MCQ

To determine

The means through which public goods are sometimes provided.

Answer to Problem 3MCQ

From the available options, the correct option is the government, voluntary contribution, and self-interested individuals and firms.

Explanation of Solution

Many times, public goods can be provided through the government, individual self-interest, as well as voluntary contributions because the enforcement of the law by the government would be for all people, seeking personal gains such as getting an education may also provide benefits to the public, and people can contribute voluntarily for the welfare of the society or for community services such as providing free education or special classes to children.

Therefore, the correct option is e (the government, voluntary contribution, and self-interested individuals and firms).

Economics Concept Introduction

Introduction: Excludable refers to the situation when according to people's willingness to pay, producers can prevent certain people from using or consuming goods and services. And, a rival in consumption means if one person consumes a good or service then it reduces the number of available goods and services for consumption by another.

A public good covers both non-excludable as well as non-rival. And, a private good is excludable and rival in consumption which may prevent people from consuming when one person consumes the same good.