The Pennsylvania Turnpike is a tolled freeway running through the state of Pennsylvania. Motorists must

The Pennsylvania Turnpike is a tolled freeway running through the state of Pennsylvania. Motorists must pay tolls at various points along the Turnpike based on the distance they traveled on the freeway. Suppose that despite the tolls, many motorists in the urban areas use the Turnpike causing traffic to slow during peak times. What type of good would the Turnpike be classified as in this case?

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  1. Private good

    Explanation:

      According to the given scenario, the Pennsylvania Turnpike is classified the private type of good on the basis of given situation as private good is one of the type of goods that must be purchased by the customers due to its positive advantages or benefits.

    The private goods are consumed by the customer in maximum amount in the market as it is one of the essential type of good as it is Rivalry and excludability.  

    The following are some example of the private goods are as follows:

    FoodClothes Fresh airKnowledge

     Therefore, Private good is the correct answer.   

     

  2. Private good

    Explanation:

     According to the given question, Pennsylvania Turnpike is basically classified as private good on the basis of given situation and private good is one of the type of good that provide the various types of benefits according to the customer requirement.

     The various types of private good is basically produced by the private owned companies for the purpose of increase the satisfaction and the utility. The clothes, food, sanitation and knowledge are the private good.

     Therefore, Private good is the correct answer.      

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