Question

a) Fill in the blanks below to help us classify four types of goods. I have helped you by filling out box 2. 1 3 Private Goods 5 6 7 00 b) Using the boxes you filled out above, Classify each of the following goods: Box # Good Measles vaccination Box # Good Police Protection The Nechako River Your mobile phone The Mr. PG statue Street lights in city Shoes Earth's atmosphere The Law The Internet National Parks Car

Answer 1

Answer

There are four types of good in economics ; Public goods , private goods , common resources and club goods

1. Measles vaccination-public good
2. Nechako river -common resource good
3. Mr PG statue - public good
4. shoes-Private good
5. Law - Public good
6. National park-common resource
7. Police protection-Public good
8. mobile phone -private good
9. street light in city - public good
10. earth atmosphere -coomon resources type of good
11. internet -private good
12. car -private good

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