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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

1

1

Question 1

1.

Question 2

2.

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

Shared Consumption

Exclusion

Rivalry

Nonrivalry

NonExclusion

Nonshared 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

Police and Fire Protection

Cable Television

Public Toll Roads and Bridges

The St. Lawrence Seaway

Health Care

National Forest Campgrounds

A Haircut

Electric Power

A college Education

Spraying for Mosquitoes at the local park

Auto Airbags

National Defense

The environment

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

Congested NonToll Roads

Fish in the Ocean

Street Lights

Canine Rabies Shots

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)