Types of Goods

Front

Which of the following statements about consumer goods is correct? Consumer goods are goods consumed immediately after use. Consumer goods are goods that directly satisfy human wants. Consumer goods must not be free-of-charge. Consumer goods must be economic goods.

Back

Consumer goods are goods that directly satisfy human wants.

Front

Which of the following are capital goods used in a classroom? (1) lockers (2) blackboards (3) air-conditioners (4) students' mobile phones

Back

(1), (2) and (3) only

Front

Which of the following about capital goods and consumer goods are correct? (1) A good can be a producer good and also a consumer good. (2) Producing producer goods involves opportunity cost, but producing consumer goods does not. (3) Producer goods are used by producers only while consumer goods are used by consumers.

Back

(1) and (3) only

Front

Under the Government Wi-Fi Programme (GovWifi), free Wi-Fi service is available to all citizens at designated government premises. This free Wi-Fi service is

Back

a private good because there is a limit of connection.

Front

Which of the followings is the reason that the playground is non-excludable in consumption? Options: The playground is owned by the government., No pet is allowed in the playground., Many citizens visit the playground in weekend., The government states that the playground must be open to public.

Back

The government states that the playground must be open to public.

Front

Which of the following statements must be correct?
(1) When the consumption by one consumer will not reduce the quantity available to others, it must be a public good.
(2) As it is a public good, no one can stop others from using it.
(3) A public good can satisfy human want.

Back

(2) and (3) only

Front

Which of the following statements about a public good is correct?
If a good is non-excludable in consumption, it is a public good.
Suppose that a public good is produced. The benefit to the society is larger when more people can use it.
If a good is non-rivalry in consumption, it is a public good.
All public goods should be supplied by the government.

Back

Suppose that a public good is produced. The benefit to the society is larger when more people can use it.

Front

Which of the following statements about public goods are correct? (1) Public goods can be economic goods or free goods. (2) Public goods must be provided by the government. (3) Public goods is non-rivalry and non-excludable in consumption.

Back

(1) and (3) only

Front

Which of the following items is non-excludable in consumption? A crowded beach, A tram with no passenger, Limited edition of music album, Signal of pay TV channel.

Back

A crowded beach.

Front

The broadcast of American basketball matches on a free TV channel is

Back

a producer good if the broadcast is used in the training of local basketball players.