Public goods flashcards

Click to flip

C
H
O
O
S
E

T
O
P
I
C

Choose a topic

Click to flip

C
H
O
O
S
E

T
O
P
I
C

Choose a topic


What is the main characteristics of a public good nonrivalry and nonexcludability.
what does nonrivalry mean If one person's benefit from the good it does not reduce the benefit available to others
what does nonexcludability means free riders cannot be barred from receiving the benefits
Rivalry and excludability are the main characteristics of Private goods
what is an example of a public good street lights in a city or the war on terrorism
What are some benefits of public goods Public good has benefits that are available to all, regardless of payment
The market system does not produce public goods because private firms cannot stop consumers who are unwilling to pay for such goods from benefiting from them.
What does nonexcludability mean individuals who are unable or unwilling to pay for a good cannot be excluded from the benefits provided by that product
what is the free-rider problem people will not voluntarily pay for something that they can obtain without paying.
what is a quasi-public good a good for which exclusion could take place but that has such large spillover benefits that government provides it to prevent an underallocation of resources.
what is an example of a quasi-public good public higher education

What is the main characteristics of a public good

what does nonrivalry mean

what does nonexcludability means

Rivalry and excludability are the main characteristics of

what is an example of a public good

What are some benefits of public goods

The market system does not produce public goods because

What does nonexcludability mean

what is the free-rider problem

what is a quasi-public good

what is an example of a quasi-public good

Front
Back
ADD NEW CARD

Sign in or Create an account to leave comments.