Question

Which of the following is NOT an example of a public good?

national defense

lighthouse

street performers

national parks

Which of the following are club goods (select all that apply)?

a Fourth of July fireworks show

attendance at an NHL hockey game between the Pittsburgh Penguins and the Minnesota Wilds

streetlights

a dose of flu vaccine

an uncrowded swimming pool

a bacon double cheeseburger

Common resources are associated with the incentive to (select all that apply)

conserve

overuse

maintain

trade

neglect

Answer 1

1.

National parks

Reason: Public goods are those goods which are both non rival and non excludable in nature.

In the given question, out of all 4 options, only national parks are not public goods, as they are rival in nature (when it becomes over crowded)

2.

Attendance at an NHL hockey game between the Pittsburgh Penguins and the Minnesota Wilds

An uncrowded swimming pool

Reason: Club goods are those goods which are non-rival but excludable in nature. Since it is possible to exclude people from using a swimming pool or attending an NHL hockey game by setting high prices, it makes these goods as club goods

3.

Overuse

Neglect

Reason: Since common resources are rival and non-excludable in nature. This makes people tend to overuse it and neglect taking care of it for future generations. For e.g. overuse of nearby land by animal grazers, which leads to resource depletion and degradation.