Question

In: Economics

I like to get news from the New York Times, Washington Post, and CNN websites, up...

I like to get news from the New York Times, Washington Post, and CNN websites, up to my limit without paying the subscription fee. How would an economist describe this behavior?
Select one:
a. Inefficiency
b. Exploitation
c. Excludable
d. Free riding

Solutions

Expert Solution

Answer:

OPTION D: free riding

Reason: When some members of a community fail to contribute their fair share to the costs of a shared resource ( such as the different news websites in this case), it is called free riding.

This occurs when people can benefit from a good/service without paying anything towards it.

Their failure to contribute makes the resource economically infeasible to produce.

Note: From the point of view of the provider of service, it is called excludable good because the service will be given only after payment. But from customer point of view, he is free riding.

Rahul Sunny answered 1 year ago
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