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Micro 6.3-Public vs. Private Sort

Last updated over 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

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Question 1

1.

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

Nonrivalry
Rivalry
Shared Consumption

Question 2

2.

Nonshared Consumption

NonExclusion

Exclusion

Toll Good/Natural Monopoly

Public Good

Pure Private Good

Common Resource

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

Canine Rabies Shots

A college Education

The environment

Public Toll Roads and Bridges

A Haircut

National Defense

Potato Chips (The calorie that comes from eating a SINGLE CHIP)

National Forest Campgrounds

The St. Lawrence Seaway

Cable Television

A Private Amusement Park

Fish in the Ocean

Police and Fire Protection

Street Lights

Health Care

Congested NonToll Roads

Spraying for Mosquitoes at the local park

Auto Airbags

Electric Power

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)