Chapter 19 12. How is maintenance of a common resource similar to a positive ext
ID: 1105791 • Letter: C
Question
Chapter 19 12. How is maintenance of a common resource similar to a positive externality? (1 pt.) Use the following to answer question 13 Table: Goods Classification Shirt Driving in downtown Kansas City during rush hour Smog Reduction PlayStation Controller Cable TV National Defense Baltimore Aquarium Chewing Gum Your Online Economics Textbook Your Teacher's Open Office Hours Pen Public Bus Service during non-peak hours 13. Refer to the table. Classify the goods in the table into the four classifications listed. a. rival, excludable goods (2.5 pt.) b. nonrival, nonexcludable goods (1 pt.) c. rival, nonexcludable goods (.5 pt.) d. excludable, nonrival goods (2 pt.) 14. Tragedy of the commons problems are harder to solve when: (1 pt., CHOOSE 1) A) people who have access to the common good can be easily identified. B) people who have access to the common good are closely related. C) a lot of unrelated people have access to the common good. D) only a few unrelated people have access to the common good.Explanation / Answer
13
A.Rival,excludable goods-shirt,chewing gum,pen,PlayStation controller
B.Smog reduction,national defense, online economics textbook(if it can be downloaded for free, otherwise in category D)
C.Driving in kansas city during rush hour,teacher's open office hours.
D.Public bus service during non peak hours,baltimore aquarium,cable tv.
Excludable goods-good or service is called excludable if it is possible to prevent people (consumers) who have not paid for it from having access to it.
Rival goods-A rival good is a type of good that may only be possessed or consumed by a single user
Non excludable goods-good or service isnon-excludable if non-paying consumers cannot be prevented from accessing it.
Non-rival goods-non-rival goods may be consumed by one consumer without preventing simultaneous consumption by others.
14.The tragedy of the commons is an economic theory of a situation within a shared-resource system where individual users acting independently according to their own self-interest behave contrary to the common good of all users by depleting or spoiling that resource through their collective action.
If lot of unrelated people have access to the common resource,then people using the resource can't be identified and the problem would be difficult to solve.
Answer-c.
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