1. Both excludable and rival
- Quasi public good
- Private good
- Public good
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2. Positive externalities result in?
3. Merit goods are?
- Under produced and under consumed
- Over produced and over consumed
4. What is a public good?
- Goods that are collectively consumed and have the characteristics of non-excludability and non-rivalry.
- Goods that are consumed by some and have the characteristic of either non-excludability or non-rivalry.
- Goods that have none of the characteristics of non-excludability and non-rivalry.
5. Fencing a park or beach and charging an entrance fee. This is?
- Semi non-excludable
- Semi non-rival