Which of the following is an example of free good?

JAMB Economics 2023 184 views
Source: JAMB · 2023

Which of the following is an example of free good?

  1. Dinner you did not pay for
  2. Your rented apartment
  3. Free education
  4. Water in the ocean ✓
Explanation

A free good is plentiful and costs nothing to produce or obtain, so no one pays for it. Water in the ocean is an example.

A dinner you did not pay for, rented housing and free education still cost someone resources to provide, so they are not free goods.

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