Exam 19: Public Goods and the Tragedy of the Commons

When entrepreneurs use advertising to pay for the provision of a public good, the outcome is typically:

Most nonrival private goods are priced ______ marginal cost.

Overutilization and lack of conservation are more likely a problem for:

Tuna overfishing is an example of a tragedy of the commons.

In the case of radio, the ______ problem is partly overcome through the use of advertising.

Club goods are goods that are excludable but nonrival.

Which of the following is a list of rival, excludable goods only?

Which of the following is a list of nonexcludable and rival goods only?

Which of the following scenarios describes how a tragedy of the commons problem occurs?

A forced rider is someone who:

When one person's use of a good does not reduce the ability of another person to use the same good, economists say the good is rival.

The tragedy of commons is more likely to apply to:

What features does the sun have in common with public goods?

Cable TV is an example of a common resource.

Which of the following conditions would turn some people into forced riders?

Public goods are those goods that are:

Goods such as radio and television programs are ______ that are given away free because _______.

If markets underproduce public goods because of the free rider problem,:

Schooling is a public good.

Which country created property rights to catching fish in 1986?