Differentiate between a public good and common resources. Explain your answer with the clear and supportive explaining  reasonable idea with creative work

Transcribed image text: 1. Crime prevention is considered a public good. a) What are public goods and services? Explain why public goods and services are provided.

Public goods are often thought to be goods or services that are provided by the government, but that is confusing cause and effect.  What are the characteristics of a public good? Hint: Who provides the public good is not one of the characteristics.

Which of the following is not considered a strength of the environmental economics approach?   a.     companies will be motivated to try and reduce environmental impacts to have more economic gain.   b.     market-based solutions offer incentives for behavioural changes that directly address the issue at hand, fostering tangible change.   c.   policies with significant economic costs often face rejection.   d.   it assigns price/ quantitative value to natural resources, making it easier to weigh the impacts and awareness on how companies/people use it.     e.     it tries to balance the resource that you have, whatever it may be, to use and manage it appropriately and tries not to have any negative impacts on our environment.