Question

Higher education brings benefits not only to the individual who enrolls in a university, but also...

  1. Higher education brings benefits not only to the individual who enrolls in a university, but also to the society where this individual lives. This is an example of:

    A.

    Negative externality
    B.

    Public good
    C.

    Network externality
    D.

    Positive externality

  1. Which of the following is a method used by government to cope with the situation in which production of a good creates an external benefit?

    A.

    imposing Coasian taxes
    B.

    removing property rights
    C.

    running a lottery
    D.

    assigning property rights
Business   Economics   
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Answer #1

1. Option D is correct. Positive externality means the production or consumtion of a good has the positive effect on an activity imposes on an unrelated third party. As the individual who enrolled in the university and have good education, he will also transfer it to those with whom he lives or where he lives.

2. Option D is correct.  Property right is the exclusive authority to determine how a resource is used whether that resource is owned by government or by individuals such as craving stone, painter painting the street walls to get more finishing in his work.

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