Question
Which of the following statements about public goods and community resources is correct? a) There is no market for public goods because no one can
Which of the following statements about public goods and community resources is correct?
a) There is no market for public goods because no one can be excluded from consumption.
b) From an economic point of view, the central property of public goods is that they are provided by the state.
c) In contrast to public goods, consumers can be excluded from consumption in the case of community resources.
d) From an economic point of view, a common resource is characterized by it being neither exclusion nor rivalry of consumption. (--> WRONG!)
e) The tragedy of the common describes a situation in which a public good is not provided privately because the use is neither excludable nor rival (--> WRONG!)
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