The objective of this question is to help you understand the concepts of private goods, public goods, free rider problem, and quasi-public goods. Public goods vs. Private goods. Please use the material covered in the topic called The US Economy –Private and PublicSectors 

• Private goods: 

i. Please explain private goods.

ii. Please explain their characteristics. 

iii. Please give2 examples of private goods, including why those examples best fit your definition. 

iv. Please explain how private goods impact income inequality. 

• Public goods: 

i. Please explain publicgoods. 

ii. Please explain their characteristics. 

iii. Please give 2 examples of publicgoods, including why those examples best fit your definition. 

iv. Please explain how public goods impact income inequality. 

• Free rider problem: 

i. Please thoroughly and completely explain the free rider problem. 

ii.Please give two examples of the free rider problem, and explain why they are good examples. 

•quasi-publicgoods: 

i. Please thoroughly and completely explainthe presence of quasi-publicgoods. 

ii. Please provide 3 examples of quasi-public goods and explain why they are good examples. 

iii. Explain how quasi-public goods are used by the 1% versus the 99%.