Asked by Jordan Ratliff on Jul 23, 2024
Verified
Social goods are goods and services that bestow collective benefits on members of society.
Social Goods
Goods that benefit all members of society and are often provided by the government, such as public parks and national defense.
Collective Benefits
Advantages or positive outcomes that are shared by a group, community, or society from actions or policies, rather than by an individual alone.
- Differentiate between communal goods and the advantages they offer collectively.
Verified Answer
KM
Komal mehboobJul 27, 2024
Final Answer :
True
Explanation :
Social goods, also known as public goods, are goods and services that provide benefits to the entire society and whose consumption by one individual does not reduce availability to others. Examples include clean air, national defense, and public parks.
Learning Objectives
- Differentiate between communal goods and the advantages they offer collectively.