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Public Goods: Demand Curve and Optimal Quantity quiz #1

컨트롤 버튼이 '내비게이션' 모드로 변경되었습니다.
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이 집합의 용어 (32)

  • How are collective goods (public goods) different from private goods?
    Collective goods are non-rival and non-excludable, meaning one person's use does not reduce availability for others and people cannot be prevented from using them. Private goods are rival and excludable.
  • What is an example of a public good?
    National defense is an example of a public good.
  • Which is an example of a government monopoly in the United States?
    The United States Postal Service is an example of a government monopoly.
  • Which is an example of a government monopoly in the United States?
    The United States Postal Service is an example of a government monopoly.
  • What is an example of a good that is not a public good provided by the government?
    A private swimming pool is not a public good provided by the government.
  • What is the purpose of NAFTA?
    The purpose of NAFTA is to reduce trade barriers and increase economic cooperation between the United States, Canada, and Mexico.
  • What are the characteristics of public goods?
    Public goods are non-rival and non-excludable.
  • What is an example of a pure public good?
    Clean air is an example of a pure public good.
  • What is a disadvantage of government provision of a public good?
    A disadvantage is the potential for inefficiency or overprovision due to lack of market signals.
  • Which answer is not an example of a merit good or service?
    Cigarettes are not an example of a merit good or service.
  • What is an example of a natural trade barrier?
    Geographic distance between countries is an example of a natural trade barrier.
  • What is true about public goods?
    Public goods are available to all and one person's use does not diminish another's.
  • What is usually true about government-provided goods?
    Government-provided goods are often non-rival and non-excludable.
  • Which of these is not a public good?
    A cheeseburger is not a public good.
  • Why does a campground at a national park not necessarily count as a public good?
    A campground can be rival and excludable if access is limited and fees are charged.
  • Which is an example of a public good that a consumer may want but not be able to obtain?
    Clean air in a polluted city is a public good a consumer may want but not be able to obtain.
  • What is an example of a trading bloc?
    The European Union is an example of a trading bloc.
  • What is an example of a good that is not a public good?
    A private car is not an example of a public good.
  • Subsidized housing is an example of what?
    Subsidized housing is an example of a merit good.
  • What demonstrates nonrivalry in consumption?
    One person benefiting from national defense does not reduce the benefit for others.
  • Why do governments provide some goods and services in market economies?
    Governments provide goods and services that markets would underprovide due to non-excludability and non-rivalry.
  • Social insurance programs have high levels of public support because
    They provide broad benefits and reduce risks for many people.
  • Why are private companies unlikely to provide public goods?
    Private companies are unlikely to provide public goods because they cannot easily exclude non-payers and cannot profit from them.
  • What is one of the benefits of increasing economic interdependence?
    Increasing economic interdependence can lead to greater efficiency and access to a wider variety of goods.
  • The market demand for a public good can be determined by
    Vertically summing the prices individuals are willing to pay at each quantity.
  • Consumption tax pays for things everyone gets to enjoy, like . . .
    Consumption tax pays for public goods like national defense and public parks.
  • In a mixed market economy, property owned by the government
    Is used to provide public goods and services.
  • A government provides national defense because it is a public good.
    True. National defense is non-rival and non-excludable, making it a public good.
  • When economic benefits are distributed uniformly across society
    It often results from the provision of public goods.
  • How are collective goods different from private goods?
    Collective goods are non-rival and non-excludable, while private goods are rival and excludable.
  • One major difference between public goods and private goods is that
    Public goods are non-rival and non-excludable; private goods are rival and excludable.
  • The provision of a public good generates a
    Marginal social benefit equal to the sum of individual values placed on the good.