A. a good produced by a natural monopoly
B. a private good
C. a public good
D. a common resource
Related Mcqs:
- When an individual buys a car in a congested urban area, it generates ?
A. a positive externality
B. a technology spillover
C. an efficient market outcome.
D. a negative externality - A common resource is ?
A. not rival but excludable
B. both rival and excludable
C. rival but not excludable
D. neither rival nor excludable - 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. it is efficient for the government to tax the resident €2,000 each and repair the road
B. It is efficient for each neighbour to pay €3,000 to repair the section of street in front of his/her home
C. None of these answers are true
D. it is not efficient to have the street repaired - Which of the following is an example of a public good ?
A. hot dogs at a picnic
B. Whales in the ocean
C. national defense
D. apples on a tree in a public park - When markets fail to allocate resources efficiently, the ultimate source of the problem is usually ?
A. government regulation
B. that prices are not low enough so firms over produce
C. that prices are not high enough, so people overconsume
D. that property rights have not been well established - A person who regularly watches BBC television programs in the UK but fails to pay their TV licence fee is known as ?
A. excess baggage
B. a free rider
C. a costly rider
D. a common resource
E. an unwelcome rider - A public good is ?
A. neither rival nor excludable
B. rival but not excludable.
C. both rival but excludable
D. not rival but excludable - A positive externality affects market efficiency in a manner similar to a ?
A. rival good
B. public good
C. private good
D. common resource - A negative externality affect market efficiency in a manner similar to ?
A. an excludable good.
B. a private good
C. a common resource
D. a public good. - Which of the following is an example of a common resource ?
A. a firework displays
B. national defense
C. iron one
D. a national park
