Exam 19: Public Goods and Common Resources

Most goods are:

When fishing at a pond, catching and keeping one fish means that this fish is no longer available for another person to catch. This is an example of:

When a good is nonexcludable and rival in consumption:

Which of the following does not factor into the cost that individuals breaking a government ban expect to face?

Which of the following goods is most likely to be overconsumed?

Which of the following goods is likely to cause a market failure and be overconsumed?

To combat the undersupply of public goods, a government might:

When a government wants to solve the tragedy of the commons by banning a good:

Nonexcludability, in the case of rival goods, causes _______ demand.

Which of the following is a good or service that is not rival in consumption?

Bans are typically enacted to:

When consumers don't have to pay for a common resource:

When a government tries to change social norms, it:

If consumers of common resources were subject to a tax equal to the external costs imposed due to the negative externality created:

Excludability is important because it:

When the free rider problem is present in a market, the good:

The tragedy of the commons arises when a good is:

Which of the following is a "design principle" that makes informal, community-based solutions to common-resource problems more effective?

Using a common resource:

When a good is undersupplied, we can assume it is most likely a: