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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

NonExclusion
Exclusion
Nonrivalry

Question 2

2.

Nonshared Consumption

Shared Consumption

Rivalry

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

Police and Fire Protection

Spraying for Mosquitoes at the local park

Street Lights

Canine Rabies Shots

A Private Amusement Park

Electric Power

Health Care

Fish in the Ocean

A college Education

Cable Television

A Haircut

Congested NonToll Roads

Auto Airbags

National Defense

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

National Forest Campgrounds

Public Toll Roads and Bridges

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)