Economics MCQs

A. The rivalness problem
B. The public goods problem
C. The tragedy of the commons.
D. The free-rider problem.

A. Receives the benefits of a good but avoids paying for it.
B. Pays for a good but fails to receive any benefit from the good
C. Fails to produce goods but is allowed to consume goods.
D. Produces a good but fails to receive payment for the good

A. Rival good
B. Public good
C. Private good
D. Common resource

A. An excludable good.
B. A private good
C. A common resource
D. A public good.

A. A firework displays
B. National defense
C. Iron one
D. A national park

A. Excludable
B. A common resource
C. A public goods
D. Rival

A. R&d generating welfare improved technology
B. Development of more productive machinery
C. New work rules promoting workers efficiency
D. Lower wages extracted from workers

A. Grant right of the clean air to citizens so that firms must purchase the right to pollute
B. Auctions off pollution permits.
C. Regulate the amount of pollutants that firms can put in the air
D. All of these answers

A. Government regulation
B. That prices are not low enough so firms over produce
C. That prices are not high enough, so people overconsume
D. That property rights have not been well established

A. A good produced by a natural monopoly
B. A private good
C. A public good
D. A common resource