What does the term "public good" often refer to in governance?

The term "public good" in governance refers to societal benefits that are non-excludable and non-rivalrous. This means that public goods are resources or services that are available to all members of society, and one individual's use of a public good does not diminish its availability to others. Examples include clean air, national defense, public parks, and street lighting.

These goods are essential for promoting social welfare and community well-being, ensuring that all individuals can enjoy the benefits without the risk of depletion due to individual consumption. By contributing to the greater good, public goods foster social cohesion and support the overall functioning of society. The implication is that the government often plays a crucial role in providing these goods, as private markets may not supply them adequately due to their nature.

In contrast, the other options focus on more individualistic or private benefits that do not align with the foundational concept of public goods, emphasizing individual gain or specific economic interests rather than the broader societal welfare that public goods embody.