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Private Good: Definition & Examples

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

Which of these is not a private good?

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1. Which one of the following is not a characteristic of a private good?

2. Which one of the following choices describes rejectability?

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About This Quiz & Worksheet

See whether you can correctly answer questions about what private goods are and identify examples of them with these quiz questions. Take the quiz as many times as needed.

Quiz & Worksheet Goals

Check out what you know about the following:

  • Things that are and are not private goods
  • Characteristics of private goods
  • Definition of excludability
  • What rejectability means

Skills Practiced

  • Defining key concepts - ensure that you can accurately define important terms, such as rejectability and excludability
  • Distinguishing differences - ensure that you can differentiate between items that are and aren't private goods
  • Information recall - access the knowledge you've gained regarding characteristics that private goods do and do not have

Additional Learning

For a deeper look into types of goods, explore the lesson called Private Good: Definition & Examples. Some of the concepts the lesson looks into include the following:

  • Define 'public good'
  • Know what 'rivalry' means in the context of private goods
  • Recognize which type of good most of the products we encounter as consumers are
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