객관식
In a mixed market economy, property owned by the government is typically classified as:
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8. The Types of Goods
Public Goods: Demand Curve and Optimal Quantity
객관식
Which of the following best explains why government agencies are often responsible for managing public goods on behalf of the people?
A
Because public goods are always profitable for private firms to supply.
B
Because public goods can be easily divided and sold to individual consumers.
C
Because public goods have a downward-sloping individual demand curve.
D
Because public goods are non-excludable and non-rivalrous, private markets may fail to provide them efficiently.
검증된 단계별 안내1
Understand the definition of public goods: Public goods are characterized by being non-excludable (people cannot be prevented from using them) and non-rivalrous (one person's use does not reduce availability to others).
Recognize the implications of non-excludability: Since individuals cannot be excluded from using the good, private firms find it difficult to charge consumers directly, leading to a free-rider problem.
Consider the non-rivalrous nature: Because one person's consumption does not diminish another's, there is little incentive for private firms to limit supply or exclude non-payers, reducing profitability.
Analyze why private markets may fail: Due to these characteristics, private firms may underprovide or not provide public goods at all, as they cannot easily capture revenue to cover costs.
Conclude why government intervention is necessary: Government agencies manage public goods to ensure efficient provision and maintenance on behalf of the people, overcoming market failures associated with public goods.
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