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

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

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

Rivalry
Exclusion
Nonrivalry
Nonshared Consumption
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.

The St. Lawrence Seaway
The environment
Street Lights
A Private Amusement Park
Electric Power
Canine Rabies Shots
Health Care
Auto Airbags
Public Toll Roads and Bridges
A Haircut
Spraying for Mosquitoes at the local park
National Defense
National Forest Campgrounds
Congested NonToll Roads
Fish in the Ocean
Potato Chips (The calorie that comes from eating a SINGLE CHIP)
Cable Television
Police and Fire Protection
A college Education

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)