Asked by Heena Munshi on Jul 06, 2024
Verified
Recall the four types of goods. Are national defense and basic research the same type of good? Briefly explain.
National Defense
Government and military activities and structures designed to protect a country against threats and maintain its sovereignty.
Basic Research
The fundamental investigation into the principles and reasons behind observable phenomena, without targeted applications.
Types of Goods
Classification of goods based on characteristics such as excludability, rivalry in consumption, and whether they are public, private, common, or club goods.
- Describe the four types of goods and differentiate between them.
Verified Answer
ZK
Zybrea KnightJul 08, 2024
Final Answer :
Yes. Both national defense and basic research are classified as public goods.
Learning Objectives
- Describe the four types of goods and differentiate between them.