If a person can be prevented from using a good, the good is said to be ?
Which of the following is an example of a common resource ?
A negative externality affect market efficiency in a manner similar to ?
A positive externality affects market efficiency in a manner similar to a ?
Public goods are difficult for a private market to provide due to ?
A good produced by a natural monopoly is ?
A public good is ?
A person who regularly watches BBC television programs in the UK but fails to pay their TV licence fee is known as ?
A congested toll road is ?
When markets fail to allocate resources efficiently, the ultimate source of the problem is usually ?
Which of the following are potential solutions to the problem of air pollution?
The Tragedy of the Commons is a parable that illustrates why?
When government employ cost-benefit analysis to help them decide whether to provide a public good, measuring benefits is difficult because ?
Suppose that requiring motorcycle riders to wear helmets reduces the probability of a motorcycle fatality from 0.3 percent to 0.2 percent over the lifetime of a motorcycle rider and that the cost of lifetime supply of helmets is Rs5000. It is efficient for the government to require riders to wear helmets if human life is valued at ?
Which of the following is an example of a public good ?
Suppose each of 20 neighbours on street values street repairs at €3000 the cost of the street repair is €40,000 which of the following statements is true ?
A common resource is ?
A private good is ?
If one person’s consumption of a good diminishes other people’s use of the good, the good is said to be ?

A free rider is a person who ?

A. receives the benefits of a good but avoids paying for it.
B. pays for a good but fails to receive any benefit from the good
C. fails to produce goods but is allowed to consume goods.
D. produces a good but fails to receive payment for the good

Correct Answer: receives the benefits of a good but avoids paying for it. ✔

Last Updated: June 11, 2019