In the UK owners of TV sets are required by law to buy a licence. Alex is

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In the UK owners of TV sets are required by law to buy a licence. Alex is a student at university and loves watching live sport on TV. He uses digital access to watch live sport, but he has not bought a TV licence.

a. What name do economists have for Alex?

b. How can the government solve the problem caused by people like Alex?

c. Can you think of ways the private market can solve this problem?

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Economics

ISBN: 9781473768543

5th Edition

Authors: Gregory Mankiw, Mark P. Taylor

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Question Posted: Apr 25, 2024 01:01 AM

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In the UK owners of TV sets are required by law to buy a licence. Alex is

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Step by Step Answer:

a Economists would classify Alex as a free rider A free rider is an individual who benefits from a good or service without paying for it In this case ...View the full answer

Economics

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