Public Goods and Common Resources — Practice Set

A public good is defined by being:

National defense is a public good because:

The free-rider problem causes markets to ___ public goods.

A common resource (e.g., an ocean fishery) is:

The tragedy of the commons occurs because individuals:

Which good is a club good (nonrival but excludable)?

Efficient provision of a public good requires:

Congestion pricing on a crowded bridge addresses:

Which policy best preserves a fishery?

In the goods classification matrix, a private good is: