A good is considered to be a public good if it

A) is a good produced by the government sector.
B) is both nonrival-in-consumption and nonexcludable.
C) benefits only a small group of consumers but is very costly to produce.
D) is a good whose production is financed by tax revenue.

Public Good

A commodity or service that is provided without profit to all members of a society, either by the government or by a private individual or organization.

Nonrival-in-consumption

A characteristic of goods where one person's consumption does not diminish the ability of others to use the same good.

Nonexcludable

A characteristic of a good or service that prevents the owner from effectively denying access to it to non-paying individuals or entities.