Economics Goods And Services Ch#6 Flashcards
(25 cards)
What is excludibility in economics goods?
Excludibility refers to the ability of a producer to prevent consumers who have not paid for a good or service from accessing it.
True or False: Excludability is a characteristic of public goods.
False
What type of goods are typically excludable?
Private goods
What is an example of an excludable good?
A concert ticket
What is the opposite of excludibility?
Non-excludibility
What are some methods used to enforce excludability?
Using tickets, passwords, memberships, or physical barriers
What is the economic implication of excludibility?
Excludible goods can be sold in markets, allowing producers to earn revenue.
What is the relationship between excludibility and rivalry?
Excludible goods can be rivalrous or non-rivalrous.
What is the significance of excludibility for pricing strategies?
Excludibility allows producers to set prices based on demand and supply.
Are public goods excludable?
No
What is the role of property rights in excludibility?
Property rights help enforce excludibility by allowing owners to control access to goods.
What is the impact of technological advancements on excludibility?
Technology can make it easier or harder to enforce excludibility, depending on the situation.
What is the primary challenge in managing excludibility?
Preventing free riders who benefit from a good without paying for it.
How does excludibility affect market efficiency?
Excludibility can improve market efficiency by ensuring that goods are allocated to those who value them the most.
What is the key difference between excludible and non-excludible goods?
Excludible goods can be restricted to those who pay for them, while non-excludible goods are accessible to all, regardless of payment.
In what ways can excludibility be established for a good or service?
Through legal rights, technological barriers, or social norms.
What is the impact of piracy on excludibility?
Piracy undermines excludibility by allowing non-paying consumers to access goods without permission.
What factors influence the degree of excludibility of a good?
Cost of exclusion, technology, and legal framework.
What is the primary benefit of excludibility for producers?
The ability to generate revenue by selling goods or services.
What is the primary benefit of non-excludible goods for consumers?
Access to goods or services without the need to pay for them.
How does excludibility impact the concept of property rights?
Excludibility is closely related to property rights, as they determine who has the right to exclude others from using a good.
What are some challenges associated with enforcing excludibility in the digital age?
Difficulty in preventing unauthorized access, sharing, and distribution of digital content.
What role does government regulation play in ensuring excludibility?
Government regulations can help enforce excludibility through intellectual property laws and anti-piracy measures.
How does excludibility impact the pricing of goods and services?
Excludibility allows producers to charge a price for access to goods or services, influencing pricing strategies.
