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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

Exclusion
Rivalry
NonExclusion

Question 2

2.

Nonshared Consumption

Shared Consumption

Nonrivalry

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.

A Private Amusement Park

Health Care

A college Education

National Defense

Spraying for Mosquitoes at the local park

National Forest Campgrounds

Canine Rabies Shots

The environment

Congested NonToll Roads

The St. Lawrence Seaway

Auto Airbags

Cable Television

Police and Fire Protection

Public Toll Roads and Bridges

Electric Power

A Haircut

Street Lights

Fish in the Ocean

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

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)