alleryStart learning →A piece of pizza is used as the standard example of:
AAn intellectual property
BAn ordinary private good
CA pure public good
DA positive externality
Answer & Solution
Correct answer: B. An ordinary private good
1. Public goods are explained by contrast with something familiar.
2. To understand the defining characteristics of a public good, first consider an ordinary private good, like a piece of pizza.
3. A slice eaten by one person cannot be eaten by another, so it is rival.
4. The seller can also refuse it to anyone who does not pay, so it is excludable.
_Source: OpenStax Principles of Microeconomics for AP(R) Courses 2e (CC BY 4.0), Ch 13 'Positive Externalities and Public Goods', sections 13.1-13.4_
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