Which of the following is a type of goods that a person can be excluded from enjoying its benefits?
Show answer & explanation
Correct answer: A
Explanation
The correct answer is Option 1 i.e. Private.
Private goods are rivalrous and excludable, meaning that consumption by one person reduces availability for others, and people can be prevented from using them if they do not pay. These goods are typically produced and sold in markets, such as food, clothing, and personal gadgets. Only those who purchase or own the goods can enjoy their benefits, making them distinct from public or merit goods, which are generally accessible to all or provided for social welfare purposes.