6 Questions
What is a public good, as described in the context?
A good or service that is provided by the government to the public without charge and cannot be made exclusive to one group
What is the primary issue with the road construction example in the small town?
Not everyone contributed equally to its construction and maintenance
What is the term used to describe individuals who benefit from a public good without contributing to its construction or maintenance?
_Free riders
Why is the road considered a public good in the small town example?
Because everyone in the community can benefit from its construction and use
What is the main challenge with the social contract in the context of public goods?
What happens if one or the other side takes advantage of the social contract for their own benefit
What is the collective action problem, as described in the context of the road construction example?
A problem that arises when not everyone contributes equally to a public good but benefits from it
Learn about public goods, collective action problems, and the social contract. Discover what happens when the social contract is violated and how it affects the community. Understand the challenges of providing public goods and services.
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