PLENARY QUIZ ON :Public Goods and Market Failure

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

• Fireworks display

• National Defense

• Public transportation

• Lighthouse

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

• Public park

• Park bench

• Post office

• Apples

What type of good is it?

• Public

• Common

• Club

• Private

What type of good is it?

• Private

• Club

• Common

• Public

What is the problem with public goods?

• Lacks rivalry

• Lacks a excludability

• Lacks consumer and producer surplus

• None of the above

What is the free rider problem?

• scarcity even when you pay for a good

• Taking the benefits without paying

• Common goods that don't have a price

• none of the above

In a city, what is most unlikely to be provided by the private market system?

• a museum

• a school

• a sports field

• street lights

An economy operates entirely as a market system.Which type of service would not be provided in such an economy?

• A commercial banking services

• B free government health services

• C private educational services

• D profitable retail services