Tuesday, November 4, 2014

Chapter 11 Questions

1. Define excludability.

2. Define rivalry in consumption.

3. Define private good and give an example.

4. Define public good and give an example.

5.  Define common resources and give an example.

6. Define club good and give an example.

7. What is the ring road?

8. What is a free rider?

9. What is the Tragedy of the Commons?

10. Why will cows never become extinct?



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