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?
Taxi
Sandwich
Toll road
Lighthouse
5
1
The government should produce the good or service as a public good if
leaders think the public needs it.
the benefit outweighs the cost.
the cost outweighs the benefit.
the public demands it.
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.