Public goods (OCR A-Level Economics): Quizzes
📚Quizzes
Practise the questions
12 questions from this quiz
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Practise the questions
12 questions from this quiz
Which two characteristics define public goods?
Which two characteristics define public goods?
Non-excludable and non-rivalrous
Which characteristics define private goods?
Which characteristics define private goods?
Excludable and rivalrous
What are quasi-public goods?
What are quasi-public goods?
Partially excludable & partially rivalrous
What does non-excludability mean?
What does non-excludability mean?
Cannot exclude individuals from use
What does non-rivalry mean for a public good?
What does non-rivalry mean for a public good?
Use doesn't reduce availability
What is non-rejectability in public goods?
What is non-rejectability in public goods?
Cannot opt out of consuming the good
What is the marginal cost of a public good?
What is the marginal cost of a public good?
Zero
Which is an example of a public good?
Which is an example of a public good?
National defence
Which is an example of a private good?
Which is an example of a private good?
Food
Which is an example of a quasi-public good?
Which is an example of a quasi-public good?
Toll roads
What is the free rider problem?
What is the free rider problem?
Benefiting without paying for goods
What does the free rider problem lead to?
What does the free rider problem lead to?
Under-provision of goods