1. The correct answer is B) National Defense
A public good, in economics, is known as any service or product that the government supplies to its citizens. For anything to be considered a Public good it has to meet the following criteria:
- No one can be excluded from it's use
- Even if a citizen does not pay for it, they will still benefit from it
- The use of it by one person does not reduce its availability to another person.
In this regard, from all the options , national Defense meets the criteria.
2. Most entrepreneurs take a risk in order to expand their business, improve their income and not live the typical 9-5 jobs.
Any kind of business requires the proper utilization and implementation of resources such as money, labor etc. Every business has the risk of failing, and in fact, most businesses do fail within their first 5 years of operation.
However, for many, becoming an entrepreneur and starting their own business is the only way to live their dreams, support their families and live a comfortable life. For others, it can be out of necessity, while many simply enjoy the thrill of starting a business from scratch an building it.
Whatever the case, entrepreneurs are the backbone of the US economy and for many, are seen as the prime examples of the American Dream.
