Public goods are characterized as?

Public goods are defined by their unique characteristics, primarily that they are consumed jointly by multiple individuals at no extra cost, which embodies the principle of non-excludability and non-rivalry. This means that one person's consumption of a public good does not diminish another person's ability to consume it, and it is challenging to prevent individuals from using the good once it is provided.

This is evident in examples like national defense or public parks, where everyone benefits irrespective of whether they contributed to the funding. As such, these goods lend themselves to collective use, fostering a sense of shared benefit across the community.

The other characteristics listed in the provided choices describe different types of goods. Exclusive goods pertain to private goods where consumption is limited to those who pay for them. Public goods are not typically provided by private entities, as these organizations often focus on profit maximization and may not have the incentive to supply goods that cannot be charged at the point of consumption. Lastly, rival goods are those that, when consumed by one individual, make them unavailable to others, which is contrary to the fundamental nature of public goods.