Public goods

Question 1

public gs

Answer 1

gs which has characteristics of non-rivalry & non-excludablity

Question 2

Non-excludablity

Answer 2

once provided its impossible to prevent any econ agent not to consume the g

Question 3

Non-rejectability

Answer 3

Once consumed its impossible for any econ agent to consume the g

Question 4

Non-rivalry

Answer 4

consumption by one econ agent dont reduce the amount available for consumption by others

Question 5

Private g

Answer 5

g has characteristics of rivalry & exlcudability

Question 6

rivalry

Answer 6

once consumed it can’t be consumed by any one else

Question 7

Excludability

Answer 7

it’s posible to prevent anyone else from excluding the g

Question 8

Quasi public g

Answer 8

g which has characteristics of private & public g

Question 9

free rider problem

Answer 9

• If provision of public gleft to the FM Mechanism … market failure

• person /org receives then that Others have paid for w/ making any contribution
  → Bc public g SO no incentive for ppl to pay for consumption for the g
  → Prob occurs when ppl get ben others paid for

Question 10

free rider Problem Solution

Answer 10

• Taxation - everyone contributes
• Quasi public g (mostly excludable & non-rival)
eg pay toll using roads

Question 11

Merit g

Question 12

Demerit g