1. 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.
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Other questions in this quiz
2. Merit goods tend to have ________ externalities associated with their consumption
3. Education and health are examples are?
- Merit goods
- Demerit goods
4. Public goods - it is difficult, if not impossible, to _____ for them directly.
5. Negative externalities create _________.
- External costs
- Private costs