Sign up for FREE

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

1

1

Question 1

1.

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

Rivalry
Nonshared Consumption
Exclusion

Question 2

2.

Nonrivalry

NonExclusion

Shared Consumption

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

Electric Power

National Forest Campgrounds

Congested NonToll Roads

National Defense

Street Lights

Auto Airbags

Spraying for Mosquitoes at the local park

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

A Haircut

The environment

The St. Lawrence Seaway

Cable Television

A college Education

Police and Fire Protection

Public Toll Roads and Bridges

Canine Rabies Shots

Health Care

Fish in the Ocean

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)