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Micro 6.3-Public vs. Private Sort

Last updated about 1 year ago
2 questions
Public Good: Shared Consumption (Nonrivalry in consumption); Nonexcludable
Common Resource: No Shared Consumption (Rivalry in consumption); Nonexcludable
Private Good: No Shared Consumption (Rivalry in consumption); Excludable
Toll Good (Club Good): Shared Consumption (Nonrivalry in consumption); Excludable
1

Categorize the characteristics into the 4 types of goods. Remember, each characteristic applies to more than 1 type of good

  • Rivalry
  • Exclusion
  • Nonrivalry
  • Shared Consumption
  • NonExclusion
  • Nonshared Consumption
  • Toll Good/Natural Monopoly
  • Public Good
  • Pure Private Good
  • Common Resource
1

Please sort these goods and services into the 4 types of goods and services.

  • A Private Amusement Park
  • A Haircut
  • Potato Chips (The calorie that comes from eating a SINGLE CHIP)
  • National Defense
  • A college Education
  • Congested NonToll Roads
  • Cable Television
  • The environment
  • Fish in the Ocean
  • Canine Rabies Shots
  • Health Care
  • National Forest Campgrounds
  • Spraying for Mosquitoes at the local park
  • Electric Power
  • Auto Airbags
  • The St. Lawrence Seaway
  • Police and Fire Protection
  • Street Lights
  • Public Toll Roads and Bridges
  • Toll Good/Natural Monopoly (Excludable & Not Rival so Shared)
  • Public Good (Not Excludable & Not Rival so Shared)
  • Pure Private Good (Excludable & Rival so Not Shared)
  • Common Resource (Not Excludable & Rival so Not Shared)