Public vs. Private Goods

Which of the following is NOT an example of a public good?

• Fireworks display

• National Defense

• Car

• Lighthouse

Which of the following is an example of a private good?

• School WiFi

• Park bench

• Netflix

• Apples

A good that is non-rival but excludable is considered a:

• Private Good

• Club Good

• Public Good

• Common Good

A good that is rival but non-excludable will be a:

• Private good

• club good

• Common good

• Public good

Goods that lack a price tend to result in a market failure. The market failure can be attributed to a lack of:

• Rivalry

• Equity

• Excludability

• None of the above

Common goods are:

• Non rival, excludable

• Non rival, non excludable

• rival, excludable

• rival, non excludable

What is the tragedy of the commons?

• Finite resources of a private good

• Finite resources, zero excludability

• Unlimited resources, zero excludability

• Never heard of it

What type of good is it?

• Public

• Common

• Club

• Private

What type of good is it?

• Public

• Club

• Common

• Private

What type of good is it?

• Private

• Club

• Common

• Public