Exam 19: Public Goods and Common Resources

An example of a public good that the government has made excludable is:

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

An example of a public good is:

Fish in the ocean would be considered:

If the punishment is _________,or the likelihood of getting caught is _________,the cost associated with breaking a ban may not be high enough to change the trade-off that consumers face.

Not having to pay for a good leads to:

Goods that are rival in consumption and excludable are:

An example of a good that is rival in consumption is:

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

When the government privatizes a common resource,it:

Wikipedia is an example of:

Which of the following is most likely to be overconsumed?

The tragedy of the commons arises from:

One "design principle" that makes informal,community-based solutions to public goods and common resource problems more effective is:

The tragedy of the commons is:

Bans and quotas ___________ in situations where it is difficult or costly for authorities to monitor and punish rule-breakers.

An example of a public good that is difficult to make excludable is:

Elinor Ostrom won the 2009 Nobel Prize in economics for her research showing:

A common resource is:

If you can't prevent people from consuming something,then: