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What is a public good, as described in the context?
What is a public good, as described in the context?
- A good or service provided by the government to a specific group
- A good or service that is provided by the government to the public without charge and cannot be made exclusive to one group (correct)
- A good or service that is provided by private companies
- A good or service that is exclusive to only one group
What is the primary issue with the road construction example in the small town?
What is the primary issue with the road construction example in the small town?
- The road is not serving the public good
- Only a small number of people voted to construct the road
- The road is exclusively for the shop owners
- Not everyone contributed equally to its construction and maintenance (correct)
What is the term used to describe individuals who benefit from a public good without contributing to its construction or maintenance?
What is the term used to describe individuals who benefit from a public good without contributing to its construction or maintenance?
- _Free riders (correct)
- Collective contributors
- Public benefactors
- Social contractors
Why is the road considered a public good in the small town example?
Why is the road considered a public good in the small town example?
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What is the main challenge with the social contract in the context of public goods?
What is the main challenge with the social contract in the context of public goods?
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What is the collective action problem, as described in the context of the road construction example?
What is the collective action problem, as described in the context of the road construction example?
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