Characteristics and Management of Public Goods and Common Resources Quiz
Test your knowledge on public goods & common resources. Understand free-rider problems, tragedy of the commons, and management strategies.
#1
Which of the following best describes a public good?
Excludable and rivalrous
Non-excludable and rivalrous
Excludable and non-rivalrous
Non-excludable and non-rivalrous
#2
What is a characteristic of a common resource?
Excludable and non-rivalrous
Non-excludable and rivalrous
Excludable and rivalrous
Non-excludable and non-rivalrous
#3
Which concept refers to the situation where individuals fail to contribute to the provision of a public good, yet still benefit from it?
Tragedy of the commons
Free rider problem
Market equilibrium
Externality
#4
What is a characteristic of a public good?
It is excludable and non-rivalrous.
It is non-excludable and rivalrous.
It is excludable and rivalrous.
It is non-excludable and non-rivalrous.
#5
What is the primary characteristic of a public good?
It is excludable and rivalrous.
It is excludable and non-rivalrous.
It is non-excludable and rivalrous.
It is non-excludable and non-rivalrous.
#6
Which of the following is an example of a public good?
Fish in the ocean
Private park
Toll roads
Street lighting
#7
What is a free-rider problem associated with public goods?
Individuals who do not pay for a good can still benefit from it
Producers who exploit resources for their gain
Government intervention in market activities
Market equilibrium is not reached
#8
What is the concept of rivalry in consumption?
The competition between producers in a market
The rivalry between consumers for a scarce resource
The ability of one individual to consume a good without reducing its availability to others
The ability of a good to be shared among multiple users simultaneously
#9
Which of the following is NOT an example of a common resource?
Clean air
Fishing grounds
Public park
Aquifer
#10
What is the 'free rider' problem in the context of public goods?
Individuals who contribute to the provision of public goods without receiving any benefits
Consumers who consume public goods without paying for them
Producers who exploit resources without considering environmental consequences
Government intervention in market activities
#11
Which management strategy is commonly used for dealing with the tragedy of the commons?
Privatization
Government regulation
Market incentives
Community ownership
#12
What is the tragedy of the commons?
A situation where individuals overuse or deplete a shared resource
A market failure resulting from government intervention
A condition where private goods are undervalued
A theory explaining public goods provision
#13
Which economic concept explains why private markets tend to underprovide public goods?
Opportunity cost
Externalities
Price elasticity
Perfect competition
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