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Goods such as air and sunlight, which are abundant and command no price, are termed:
AEconomic goods
BFree goods
CFactor goods
DSpot goods
Answer & Solution
Correct answer: B. Free goods
1. Free goods are abundant in supply, have no scarcity, and need no cost to obtain.
2. Air and sunlight are given as the textbook examples of such goods.
3. Hence these are free goods.
_Source: ICAI BoS CA Foundation Paper 4 Business Economics, Ch 4 Unit I "Meaning and Types of Markets", p.1_
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