Economics For Today
9th Edition
ISBN: 9781305507074
Author: Tucker, Irvin B.
Publisher: Cengage Learning,
expand_more
expand_more
format_list_bulleted
Question
Chapter 4, Problem 17SQ
To determine
Describe public good.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
Which of the following is NOT one of the characteristics of a public good?
A. It must be non-rival in consumption.
B. It must be nonexcludable.
C. It must be provided by the government.
D. All of the above are characteristic of public goods.
Which of the following is NOT a feature of a public good?
a. Non-excludability
b. Non-rivalry
c. Always provided by the free market
d. Generally provided by the government
Differentiate between a public good and common resources.
Chapter 4 Solutions
Economics For Today
Ch. 4.2 - Prob. 1YTECh. 4.2 - Prob. 2YTECh. 4.2 - Prob. 3YTECh. 4.2 - Prob. 4YTECh. 4.3 - Prob. 1YTECh. 4.3 - Prob. 2YTECh. 4 - Prob. 1SQPCh. 4 - Prob. 2SQPCh. 4 - Prob. 3SQPCh. 4 - Prob. 4SQP
Ch. 4 - Prob. 5SQPCh. 4 - Prob. 6SQPCh. 4 - Prob. 7SQPCh. 4 - Prob. 8SQPCh. 4 - Prob. 9SQPCh. 4 - Prob. 10SQPCh. 4 - Prob. 1SQCh. 4 - Prob. 2SQCh. 4 - Prob. 3SQCh. 4 - Prob. 4SQCh. 4 - Prob. 5SQCh. 4 - Prob. 6SQCh. 4 - Prob. 7SQCh. 4 - Prob. 8SQCh. 4 - Prob. 9SQCh. 4 - Prob. 10SQCh. 4 - Prob. 11SQCh. 4 - Prob. 12SQCh. 4 - Prob. 13SQCh. 4 - Prob. 14SQCh. 4 - Prob. 15SQCh. 4 - Prob. 16SQCh. 4 - Prob. 17SQCh. 4 - Prob. 18SQCh. 4 - Prob. 19SQCh. 4 - Prob. 20SQ
Knowledge Booster
Similar questions
- Which among the following is a characteristic of a public good? Select one: a. Free rider problem b. Demand curve is the horizontal summation of the individual demand curves c. None of the answers is correct d. Rivalry e. Excludabilityarrow_forwardSolve all parts a,b,c,d,e and f. (f)What does this problem teach you about the optimal provision of public goods?arrow_forwardA free rider is Group of answer choices A)Someone who consumes a public good but does not pay for it. B)Someone who only purchases resold goods or only uses items they can get for free. C)Someone who gives away items they have purchased. D)Someone who resells items they have purchased.arrow_forward
- You are required to choose a public good in the market and explain how the chosen product fits into the characteristics. Discuss the economic problems for public goods in the market and provide suggestions to overcome these problems.arrow_forwardTrue/False Road is a type of public good.arrow_forwardName 5 public goods and explain why they are public goods.arrow_forward
- Described in detail the main characteristics of public good .arrow_forwardWhat are public goods/services? Provide an example of a public good and say why it is a public good/servicearrow_forwardMarket Failure, Public Sector and Public Choice( from chapters 7, 8 and 9) Differentiate between a public good and common resources. Explain your answer with the clear and supportive explaining reasonable idea with creative workarrow_forward
- Which of the below stages is not a characteristic of public goods? A. Non-rejectable B. Non-excludable by the provider C. Non-rivalrous in consumption D. Non-regulationarrow_forwardThe socially optimal outcome is the outcome that: Select one: a. has the most externalities. b. is most efficient for society as a whole, including for buyers, sellers, and bystanders. c. has the most benefits for society as a whole, regardless of the costs involved. d. benefits the largest number of people.arrow_forwardA lighthouse, or terrestrial television, are considered to be examples of public goods (or services) because: a) They are most often provided through a publicly funded service. b) The service is available to all, and use does not restrict the ability to other users to enjoy the service. c) Users can free ride, enjoying the service without making any payment for it. d) The service is considered to have value to the whole of society, and not just to its users.arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Exploring EconomicsEconomicsISBN:9781544336329Author:Robert L. SextonPublisher:SAGE Publications, Inc
Principles of MicroeconomicsEconomicsISBN:9781305156050Author:N. Gregory MankiwPublisher:Cengage Learning
Economics Today and Tomorrow, Student EditionEconomicsISBN:9780078747663Author:McGraw-HillPublisher:Glencoe/McGraw-Hill School Pub Co
Exploring Economics
Economics
ISBN:9781544336329
Author:Robert L. Sexton
Publisher:SAGE Publications, Inc
Principles of Microeconomics
Economics
ISBN:9781305156050
Author:N. Gregory Mankiw
Publisher:Cengage Learning
Economics Today and Tomorrow, Student Edition
Economics
ISBN:9780078747663
Author:McGraw-Hill
Publisher:Glencoe/McGraw-Hill School Pub Co