F5: Public Goods and Services
starstarstarstarstarstarstarstarstarstar
by Stephanie Foy
| 5 Questions
1
1
Who produces public goods in the United States?
government organizations
military enforcement
entrepreneurs
consumers
2
1
Fill in the blank: In order for the market to effectively and efficiently produce a good or service, entrepreneurs must be able to make a ______________________________.
3
1
One characteristic of a public good is that many people can enjoy/consume the good simultaneously. This is called
shared consumption
private consumption
non-exclusion
free-riding
4
1
Which of the following meets the characteristics of a pure public good?
Sandwich
Taxi
Toll road
Lighthouse
5
1
The government should produce the good or service as a public good if
the cost outweighs the benefit.
leaders think the public needs it.
the public demands it.
the benefit outweighs the cost.
Add to my formatives list

Formative uses cookies to allow us to better understand how the site is used. By continuing to use this site, you consent to the Terms of Service and Privacy Policy.