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F5: Public Goods and Services

Last updated over 6 years ago

5 questions

1

1

Question 2

2.

Fill in the blank: In order for the market to effectively and efficiently produce a good or service, entrepreneurs must be able to make a ______________________________.

1

1

1

Question 1

1.

Who produces public goods in the United States?

government organizations

consumers

entrepreneurs

military enforcement

Question 3

3.

One characteristic of a public good is that many people can enjoy/consume the good simultaneously. This is called

private consumption

shared consumption

free-riding

non-exclusion

Question 4

4.

Which of the following meets the characteristics of a pure public good?

Toll road

Sandwich

Lighthouse

Taxi

Question 5

5.

The government should produce the good or service as a public good if

the public demands it.

leaders think the public needs it.

the benefit outweighs the cost.

the cost outweighs the benefit.