Public/Private Sector Review

Which of the following is a characteristic of a public good?

• It is rivalrous.

• It is excludable.

• It is non-rivalrous.

• It is paid for with private funds.

What does it mean for a good to be non-excludable?

• It can be provided for one without providing for all.

• It is impossible or impractical to provide for one without providing for all.

• It goes away as it is consumed.

• It is paid for with private funds.

How are public goods typically funded?

• Through private donations.

• Through tax revenue.

• Through user fees.

• Through loans.

In which sector would goods funded by the government for the use of all people be found?

• market

• business

• private

• public

Which sector is typically driven by profit motives and competition?

• Public Sector

• Private Sector

• Non-Profit Sector

• Informal Sector

What is a common characteristic of the public sector?

• Profit-driven

• Funded by taxes

• Operates in informal economy

• Focuses on individual gain

Which sector is more likely to be involved in the provision of healthcare and education services?

• Public Sector

• Private Sector

• Non-Profit Sector

• Informal Sector

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

• Private School

• Infrastructure

• Shopping Mall

• Private Security

Which of the following is NOT typically considered a public good?

• Education

• Police Protection

• Private Club Membership

• Postal Service

What is one of the characteristics of market failures?

• The market distributes a good efficiently

• The market distributes a good inefficiently

• The market always benefits everyone equally

• The market never has any issues