The statement "Government intervention is required to provide private goods, which would not otherwise be provided by the market" is generally considered **False**.

### Explanation
- Private goods are defined by two characteristics: they are both excludable and rivalrous. This means that individuals can be prevented from using them, and one person's use of the good reduces its availability for others.
- The market typically provides private goods efficiently because there is a profit motive for businesses to produce them.
- Government intervention is more commonly associated with public goods (which are non-excludable and non-rivalrous) or goods that require regulation due to market failures.

Thus, the answer to the statement is **False**.

Question

The statement "Government intervention is required to provide private goods, which would not otherwise be provided by the market" is generally considered **False**.

### Explanation
- Private goods are defined by two characteristics: they are both excludable and rivalrous. This means that individuals can be prevented from using them, and one person's use of the good reduces its availability for others.
- The market typically provides private goods efficiently because there is a profit motive for businesses to produce them.
- Government intervention is more commonly associated with public goods (which are non-excludable and non-rivalrous) or goods that require regulation due to market failures.

Thus, the answer to the statement is **False**.

Knowee AI · Accepted Answer

The statement "Government intervention is required to provide private goods, which would not otherwise be provided by the market" is generally considered **False**.

### Explanation
- Private goods are defined by two characteristics: they are both excludable and rivalrous. This means that individuals can be prevented from using them, and one person's use of the good reduces its availability for others.
- The market typically provides private goods efficiently because there is a profit motive for businesses to produce them.
- Government intervention is more commonly associated with public goods (which are non-excludable and non-rivalrous) or goods that require regulation due to market failures.

Thus, the answer to the statement is **False**.

Government intervention is required to provide private goods, which would not otherwise be provided by the market.Question 7Select one:TrueFalse

Question

Government intervention is required to provide private goods, which would not otherwise be provided by the market.

Solution

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