Podcast
Questions and Answers
What characteristic defines a public good?
What characteristic defines a public good?
What is a key reason why markets do not exist for nonexclusive public goods like clean air?
What is a key reason why markets do not exist for nonexclusive public goods like clean air?
Which type of good is subject to exclusion but is nonrival in consumption?
Which type of good is subject to exclusion but is nonrival in consumption?
What does the social demand curve for a public good represent?
What does the social demand curve for a public good represent?
Signup and view all the answers
In what scenario can markets exist for public goods?
In what scenario can markets exist for public goods?
Signup and view all the answers
Why can too little production occur when it comes to public goods?
Why can too little production occur when it comes to public goods?
Signup and view all the answers
What does a private good possess that a public good does not?
What does a private good possess that a public good does not?
Signup and view all the answers
Which type of intervention is rare when it comes to regulating club goods?
Which type of intervention is rare when it comes to regulating club goods?
Signup and view all the answers
Which type of good produces a positive externality?
Which type of good produces a positive externality?
Signup and view all the answers
Why is excluding anyone from consuming a public good considered inefficient?
Why is excluding anyone from consuming a public good considered inefficient?
Signup and view all the answers
