1.3.3

Question 1

Non-rival

Answer 1

The use of a good by one does not diminish the use of it for another

Question 2

Non-excludable

Answer 2

Those who have no paid for the good cannot be excluded

Question 3

Non-rejectable

Answer 3

Once a public good is provided it cannot be rejected by beneficiaries

Question 4

Free rider problem

Answer 4

An economic concept of a market failure that occurs when people are benefiting from resources, goods, or services that they do not pay for.

Question 5

Quasi-public good

Answer 5

A good or service with some of the characteristics of a public good or only some of the time eg. beach, road

Question 6

Quasi-public good characteristics

Answer 6

• Semi-non-rival (eg. beach, roads)
• Semi-non-excludable (eg. roads)
• Rival but non-excludable (eg. atmosphere)
  Excludable but non-rival (eg. streaming services)

Question 7

Government failure

Answer 7

When government intervention increases the welfare loss