Determine if the following goods listed are a private good, a common good, a quasi-public good...

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Question

Determine if the following goods listed are a private good, a common good, a quasi-public good...

Determine if the following goods listed are a private good, a common good, a quasi-public good or a public good.

A television broadcast of the World Series

Mail delivery

Education in a public school (Grades K through 12)

Education in a private school (Grades K through 12)

Hiking in a large park (no congestion) surrounded by a fence

Hiking in a large park (no congestion) not surrounded by a fence

an apple

business economics

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Answer 1

Answer #1

(a) A television broadcast of the world series.: Public good.

(b) Mail delivery : Private good.

(c) Education in a public school (Grades K through 12) = Common resource.

(d) Education in a private school (Grades K through 12)= Private good.

(e) Hiking in a large park (no congestion ) surrounded by a fence: A quasi public good.

(f) Hiking in a large park (no congestion) not surrounded by a fence : Public good.

(g) An apple : Private good.

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Answer 2

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Determine if the following goods listed are a private good, a common good, a quasi-public good...

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