MCQs of Economics – Public Goods

If one person’s consumption of a good diminishes other people’s use of the good, the good is said to be:

A public good is:

A private good is:

A good produced by a natural monopoly is:

A common resource is

Public goods are difficult for a private market to provide due to:

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 free rider is a person who

Which of the following is an example of a public good?

A positive externality affects market efficiency in a manner similar to a

Suppose that requiring motorcycle riders to wear helmets reduces the probability of a motorcycle fatality from 0.3 percent to 0.2 percent over the lifetime of a motorcycle rider and that the cost of lifetime supply of helmets is Rs5000. It is efficient for the government to require riders to wear helmets if human life is valued at

A negative externality affect market efficiency in a manner similar to

When government employ cost-benefit analysis to help them decide whether to provide a public good, measuring benefits is difficult because

Which of the following is an example of a common resource?

The Tragedy of the Commons is a parable that illustrates why?

Which of the following are potential solutions to the problem of air pollution?

When markets fail to allocate resources efficiently, the ultimate source of the problem is usually

If a person can be prevented from using a good, the good is said to be

A congested toll road is:

A person who regularly watches BBC television programs in the UK but fails to pay their TV licence fee is known as