Question on: JAMB Economics - 2023
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Which of the following is an example of free good?
A
Free education
B
Water in the ocean
C
Dinner you did not pay for
D
Your rented apartment
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Correct Option: B
Water in the ocean is an example of a free good. Free goods are goods that are available in abundance and do not require any effort or resources to obtain. They are not scarce, and their availability is not limited. In the case of water in the ocean, it is freely available and not subject to economic scarcity.
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