Market and Types of Goods · UPSC CDS/OTA · Question 26 of 30

Market and Types of Goods – Question 26

Step-by-step solution. Market and Types of Goods for UPSC CDS/OTA.

Topic
Market and Types of Goods
Subject
General Studies
Difficulty
Medium
Solve Time
45–60 sec

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Q · Market and Types of GoodsMedium · 45s

Which of the following best describes private goods in economics?

TopicMarket and Types of Goods
Question Typemultiple choice
DifficultyMedium
Marking+1 / −0.33
Test Duration30 min

Step-by-Step Solution

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Private goods are defined as rivalrous (consumption by one person reduces availability for others) and excludable (people can be prevented from using them if they don’t pay). Examples include food, clothing, and cars.

Final Answer: Option A — They are rivalrous and excludable
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Market and Types of Goods Question 26 – UPSC CDS/OTA