Classify the following goods and services as private goods, common resources, artificially scarce goods, or public...

Classify the following goods and services as private goods, common resources, artificially scarce goods, or public goods.

Health insurance is
Radio spectrum is
A video on Netflix is
A mosquito control program in a city is
Studying space in library is

Expert Solution

Rahul Sunny answered 1 year ago

Explain which category (Public Good, Private Good, Club Good or Common Resources) each of the following goods...

Explain which category (Public Good, Private Good, Club Good or Common Resources) each of the following goods falls into and why: police protection snow plowing education rural roads city streets Why do you think the government provides items that are not public goods? (free-riding)

Explain whether the following goods and services are private, public, mixed or merit goods in terms...

Explain whether the following goods and services are private, public, mixed or merit goods in terms of their rivalry and excludability 2.1. A game reserve (2) 2.2. A cell phone (mobile phone) (2) 2.3. Private security services (2) 2.4. Education (2) 2.5. The National Defence Force

Classify the items in the following list as markets, private externalities, or public goods. Illustrate each...

Classify the items in the following list as markets, private externalities, or public goods. Illustrate each externality graphically. Who is producing the externality? Who gains/loses in each case? A.lighthouse warns ships about rocks. B. Space trash falls out of orbit. c. My building blocks your sunlight. d. You outbid me at the auction. e. Bees pollinate your apple trees. f. Noise lowers the sale value of my house. g. Buffy Summers spends her summers slaying vampires.

Some resources are private, others are common, and still others are public. Define a private resource,...

Some resources are private, others are common, and still others are public. Define a private resource, common resource, and public resource, explain your definitions, and provide one example of each. What problem prevents the efficient provision and management of a common resource by private unregulated markets? What problem prevents the efficient provision and management of a private good or service by private unregulated markets? What is the obstacle to the efficient production by free markets of goods and services like...

1. Both public goods and common property resources involve externalities. a) Are the externalities associated with public goods...

1. Both public goods and common property resources involve externalities. a) Are the externalities associated with public goods generally positive or negative? Use examples in your answer. Is the free-market quantity of public goods generally greater or less than the efficient quantity? b) Are the externalities associated with common resources generally positive or negative? Use examples in your answer. Is the free-market use of common resources generally greater or less than the efficient use?

Discuss the role of property rights in explaining the concepts of Public Goods and Common Resources....

Discuss the role of property rights in explaining the concepts of Public Goods and Common Resources. Include a discussion of Jamestown and the role of government in providing transportation.

Explain which category each of the following goods falls into (private good, public good, common resource...

Explain which category each of the following goods falls into (private good, public good, common resource or natural monopoly): a. Police protection b. Snow plowing c. Education d. Rural roads e. City streets

Classify each of the following items as a public good, a private good, a natural monopoly...

Classify each of the following items as a public good, a private good, a natural monopoly good, or a common resource, and explain your classification. A car licenses Tuna in the Pacific Ocean Airline service within Canada A cinema A local storm-water system

In the list below tell me whether it’s a private good, public good, common resources or...

In the list below tell me whether it’s a private good, public good, common resources or club resources. Explain. Fish in Beaverkill stream in Roscoe NY NYC Central Park NYC water from the Catskill Mountains Basic research on cancer drug Radio broadcasting system Cable television signals

2.) Pure public goods are those supplied by the public sector and private goods are those supplied by the private sector.

2.) Pure public goods are those supplied by the public sector and private goods are those supplied by the private sector. 3.) Nonrival goods may be provided by the private sector, but only if they are excludable.

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