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micro econ final_Public Goods
8 cards·by stierdaniel
Exludable
a good is __________ if a person can be prevented from using
rival
a good is _______ in consumption if one persons use of it dimishes others use
Exludable examples:
fish tacos, wifi
rival examples:
fish tacos, the highway, gas
free-rider
a person who recives the benefit of a good but avoids paying for it
cost benefit analysis
study that compares the costs and benefits of providing apublic good
common resources
you cant stop someone from using them
common resources examples:
clean air/ water, congested roads, fish/ wildlife