The Difference Between a Private Good and a Public Good

Multiple Choice

The difference between a private good and a public good is that

A) private goods are government-sponsored goods while public goods are government-inhibited goods.
B) externalities are always created in the production process but not in the production of public goods.
C) private goods make us happy while public goods do not.
D) the exclusion principle applies to a private good but not to a public good.