Which of the following best describes public goods?

Public goods are characterized by their qualities of non-excludability and non-rivalry. This means that once they are provided, it is difficult for anyone to be excluded from using them, and one person's use of the good does not diminish the availability of the good for others.

The choice indicating that public goods are provided by the government to all citizens reflects this definition well. Governments often take on the role of providing public goods because the market may not supply them efficiently due to the challenges of ensuring that everyone pays for them. Examples include national defense, public parks, and street lighting, which benefit everyone regardless of whether they contribute to the cost.

The other options do not accurately capture the essence of public goods. Goods produced exclusively by private individuals do not fit the criteria for public goods, as they are typically excludable and rivalrous. Similarly, while individuals cannot own public goods in the traditional sense, this does not encompass the full description of such goods. Lastly, goods sold solely on the marketplace usually have a direct price and are both excludable and rivalrous, which contradicts the defining attributes of public goods.