Select a familiar or local Common Resource or Public Good (see text for examples to consider).

• Assess the existence of free riders, externalities, cost-benefit analysis, likelihood of a "Tragedy of the Commons" issue, etc.
• Evaluate the controls currently in place to protect or maintain the resource/good
• Discuss the sustainability or need for change of the current status.

different types of goods to help with this question

-Excludability- is also rival in consumption, because if a person for example eats an ice cream cone the other person can't so this can not be shared.

-Rivalry in consumption- are neither rival in consumption, that means people cannot be prevented from using a public good and ones use of a public good does not limit the use of another persons public goods

Common resources- are rival in consumption but not excludable for example fish in the ocean are rival in consumption

club goods- rival in consumption but are excludable. For instance fire protection in a small town, it is easy to exclude someone from using this good. Fire department can let the house burn down but is not rival in consumption.

Public goods a person who receives a good but does not pay for it. for instance natural defense, fireworks display selling fireworks. basic research such as someone who wants to patent a creation. In actuality general knowledge is considered public goods.

-private good -as lighthouses would be a crossover between public and private goods. More so as a private good. Such as an amusement park on a private sector. Cost benefit analysis is a tough job considering this is public service to usually to people.

I hope this is enough information to help you to help me with this. Thank you and this is information I got off of my ebooks in microeconomics. Please if you would like here is the name of the book we are learning from. Principles of Microeconomics, 8th Ed.

-public goods

Externality, internalizing the externality, corrective tax, Coase theorem, transaction costs, excludability, rivalry in consumption, private goods, public goods, common resources, club goods, free rider, cost-benefit analysis, Tragedy of the Commons

Supplemental Resources:

The Wall Street Journal

Businessweek

The Economist

https://www.wsj.com/

https://www.bloomberg.com/businessweek

https://www.economist.com/