1. You are required to choose a private good in the market (example buying Iphone) and explain how the chosen product (Iphone) fits into the private goods' characteristics. (1000 words)

2. Discuss the chosen private goods' (Iphone) market equilibrium using graphs. (500 words)

3. Discuss the differences between private goods and public goods. Include 4 examples. (1000 words)

Follow the outline below :

1. Introduction
2. Explanation on how the chosen private goods fits its characteristics
3. Discussion on the market equilibrium for private goods
4. Discussion on the differences between private goods and public goods

• Example 1
• Example 2
• Example 3
• Example 4

References / Citations