What is an example of a public good?  A. A sandwich  B. Cable television  C. Street lighting  D. Haircuts

Breaking Down the Problem

1. Identify and understand each option presented as a possible example of a public good.
2. Recall the characteristics of public goods, specifically that they are non-excludable and non-rivalrous.

Relevant Concepts

• Public Goods: These are goods that are made available to all members of a society. They are typically provided by governments or collective organizations because they cannot be efficiently provided by the private market.
• Non-excludable: No one can be effectively excluded from using the good.
• Non-rivalrous: One person's use of the good does not diminish another person's use of the good.

Analysis and Detail

• Option A: A sandwich is a private good because it is both excludable and rivalrous. Only the person who purchases the sandwich can eat it, and others can be excluded from consuming it.
• Option B: Cable television is also excludable; access requires a subscription, and consumption by one person reduces availability to another.
• Option C: Street lighting is a public good; it is non-excludable since anyone can benefit from the light, and its use by one person does not prevent others from using it simultaneously.
• Option D: Haircuts are excludable and rivalrous, as only one person can receive a haircut at a time.

Verify and Summarize

After examining each option against the definitions of public goods, we conclude that the only option that fits the criteria of being non-excludable and non-rivalrous is option C.

Final Answer

C. Street lighting is an example of a public good.