If a person can be prevented from using a good, the good is said to be ?
A. excludable
B. a common resource
C. a public goods
D. rival
Which of the following is an example of a common resource ?
A. a firework displays
B. national defense
C. iron one
D. a national park
A negative externality affect market efficiency in a manner similar to ?
A. an excludable good.
B. a private good
C. a common resource
D. a public good.
A positive externality affects market efficiency in a manner similar to a ?
A. rival good
B. public good
C. private good
D. common resource
A free rider is a person who ?
A. receives the benefits of a good but avoids paying for it.
B. pays for a good but fails to receive any benefit from the good
C. fails to produce goods but is allowed to consume goods.
D. produces a good but fails to receive payment for the good
Public goods are difficult for a private market to provide due to ?
A. the rivalness problem
B. the public goods problem
C. the Tragedy of the Commons.
D. The free-rider problem.