What is privatization? Is privatization of postal services a good or bad idea for Americans? In answering this question, address each private market failure individually. What is a natural monopoly? Is postal services a natural monopoly? What is a public good? Is postal services a public good? What are externalities? Does postal services have positive externalities? Does postal services have negative externalities? Does postal services use free resources? Does postal services have equity issues? Discuss each of these private market failures individually in a separate paragraph for each. Do NOT try to lump them together. They cannot be lumped! Finally, conclude whether postal services should be owned and operated by the government or the private sector.