Merit/Demerit, Public/Private, Consumer/Producer Surplus

Front

Which of the following is a non-rivalrous good? a car, pizza, a hiking trail, a canoe

Back

a hiking trail

Front

A situation of market failure is said to exist if;

Back

third parties in society are affected and not compensated

Front

This is the fact that consumption of a public good cannot be confined to those who have paid for it.

Back

Non-excludable

Front

Products where social benefits to the community outweighs the private benefits to the consumer:

Back

Merit goods

Front

Which of the following is an example of a public good? A lighthouse, The public transport (bus or train), Water to homes, A coca cola

Back

A lighthouse

Front

Products that the government feels that people will under-consume and suppliers over supply:

Back

Merit goods

Front

Tend to have positive externalities

Back

Merit goods

Front

More harmful than customers realize: Merit goods, Demerit goods, Private goods, Economic goods

Back

Demerit goods

Front

This means that consumption by one person does not reduce the consumption by another persons.

Back

Non-Rivalrous

Front

Products people underestimate the benefits of consuming and producing

Back

Merit goods