Homework Answers
Artifically scare goods are also known as club goods. These are excludable but non-rivalrous in nature. Eg: Netflix - Which can be excluded to non-subscribers but is not rivalrous in nature.
Private goods are owned by private individuals or firms and are both excludable and rival in nature. Eg: Car
Common resources are non-excludable but rivalrous in nature. Eg: Fish in a local lake - No one can be excluded from fishing in the lake but a person's consumption of fish in the lake decreases its availability for others.
Public good is both non-excludable and non-rivalrous in nature. Eg: Sunlight, Air etc.
Ans: Private good
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A(n) is excludable and rival in consumption. artificially scarce good O private good O common resource...
IPLE CHOICE. Choose the one alternative that be 1) When a good is rival and excludable,...
IPLE CHOICE. Choose the one alternative that be 1) When a good is rival and excludable, it is a A) natural monopoly. B) public good. C) private good. D) common resource. E) regulated good.
4) Public goods are: Rival and excludable Non-rival and excludable Rival and non-excludable Non-rival and non-exclud...
4) Public goods are: Rival and excludable Non-rival and excludable Rival and non-excludable Non-rival and non-excludable 5) Collective goods are: Rival and excludable Non-rival and excludable Rival and non-excludable Non-rival and non-excludable 6) What kind of goods are your Netflix and Spotify accounts considered? Private goods Public goods Collective goods Common goods
Usually, the Smithsonian Museum (which is free to enter) is a good example of a public...
Usually, the Smithsonian Museum (which is free to enter) is a good example of a public good. However, when the museum gets crowded, it is a better example of a(n): A. artificially scarce good B. excludable good C. nonrival good D. private good. E. common property resource
1) Give an example of a public good that you consume. → Explain how it...
1) Give an example of a public good that you consume. → Explain how it is neither excludable nor rival in consumption. 2) Give an example of a club good that you consume. → Explain how it is excludable but not rival in consumption. 3) Give an example of a private good that you consume. → Explain how it is both excludable and rival in consumption. 4) Give an example of a common resource that you consume....
3) When a city street is not congested, it is A) a private good. B) a...
3) When a city street is not congested, it is A) a private good. B) a public good. C) rival and excludable. D) a common resource E) rival and nonexcludable.
1) Explain what is meant by a good being "excludable."? 2) Explain what is meant by...
1) Explain what is meant by a good being "excludable."? 2) Explain what is meant by a good being "rival in consumption."? 3) Define and give an example of a public good. Is it likely that the private market provide this good on its own? Explain. 4) Define and give an example of a common resource. Without government intervention, will people use this good too much or too little? Why?
Answer the following questions: 1) Give an example of a public good that you consume. ...
Answer the following questions: 1) Give an example of a public good that you consume. → Explain how it is neither excludable nor rival in consumption. 2) Give an example of a club good that you consume. → Explain how it is excludable but not rival in consumption. 3) Give an example of a private good that you consume. → Explain how it is both excludable and rival in consumption. 4) Give an example of a common...
69. Which of the following is the best example of a public good? a. Music downloads...
69. Which of the following is the best example of a public good? a. Music downloads b. Designer clothes c. Natural forests d. National defense 70. A street light is a ________. a. common pool resource good b. club good c. private good d. public good 71. A congested street is ________ in consumption. a. non-excludable but rival b. non-excludable and non-rival c. excludable but non-rival d. excludable and rival 72. The free-rider problem exists for goods that are ________....
Question 4 (1 point) Which statement describes a public good? a) It is rival in consumption...
Question 4 (1 point) Which statement describes a public good? a) It is rival in consumption and nonexcludable. b) It is nonrival in consumption and nonexcludable. c) It is nonrival in consumption and excludable. d) It is rival in consumption and excludable.
A vacation home in Malibu is Select one: a. not rival in consumption and excludable. b....
A vacation home in Malibu is Select one: a. not rival in consumption and excludable. b. rival in consumption and excludable. c. not rival in consumption and not excludable. d. rival in consumption and not excludable.
IPLE CHOICE. Choose the one alternative that be 1) When a good is rival and excludable, it is a A) natural monopoly. B) public good. C) private good. D) common resource. E) regulated good.
4) Public goods are: Rival and excludable Non-rival and excludable Rival and non-excludable Non-rival and non-excludable 5) Collective goods are: Rival and excludable Non-rival and excludable Rival and non-excludable Non-rival and non-excludable 6) What kind of goods are your Netflix and Spotify accounts considered? Private goods Public goods Collective goods Common goods
3) When a city street is not congested, it is A) a private good. B) a public good. C) rival and excludable. D) a common resource E) rival and nonexcludable.
Question 4 (1 point) Which statement describes a public good? a) It is rival in consumption and nonexcludable. b) It is nonrival in consumption and nonexcludable. c) It is nonrival in consumption and excludable. d) It is rival in consumption and excludable.
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