Explanation The rivalry and the excludability are the two important features of the goods and services. When the consumption of a commodity by one person prevents others from the consumption of the commodity, there occurs rivalry between the consumers for the commodity. Similarly, when the non payers for a commodity are not able to consume the commodity, then there is the excludability. Option (a): When the broadcast of the match is over the air and when it is available to everyone in the economy, then there is non-rivalry and non-excludability which makes the television broadcast an example of the public goods. On the other hand, when the television broadcast is by the cable, then the match will be available to those who pay for the cable service, which means that there is excludability which makes the television broadcast a Quasi-public good. Option (b): The home mail delivery is considered to be a private good because the mail delivery requires the use of the stamp and when the stamp is not properly used, the individual would be excluded from getting the service. It also has the characteristic of the rivalry which means that the home mail delivery is a private good. Option (c): The education in a public school can be considered as the common resource because it provides the education facility to the students of the locality without excluding anyone. Whereas, when the number of children in the economy is high and the sizes of the classrooms are small, then there will be some rivalry in the availability of required attention for each student. This makes the education in the public schools an example of the common resources. When the number of students in the locality is lower which is very rare to happen, then there will be no rivalry which makes the education in the public schools an example of the public goods...

Economics (7th Edition) (What's New in Economics)

7th Edition

ISBN: 9780134739090

Author: Hubbard

Publisher: PEARSON

See similar textbooks

Question

Chapter 5, Problem 5.4.10PA

To determine

Different types of goods.

Expert Solution & Answer

Chapter 5 Solutions

Economics (7th Edition) (What's New in Economics)

Ch. 5 - Prob. 5.1.1RQ Ch. 5 - Prob. 5.1.2RQ Ch. 5 - Prob. 5.1.3RQ Ch. 5 - Prob. 5.1.4RQ Ch. 5 - Prob. 5.1.5RQ Ch. 5 - Prob. 5.1.6PA Ch. 5 - Prob. 5.1.7PA Ch. 5 - Prob. 5.1.8PA Ch. 5 - Prob. 5.1.9PA Ch. 5 - In a study at a large state university, students...

Knowledge Booster

Similar questions

In the Land of Purity, there is only one form of pollution, called gunk. Table 12.14 shows possible combinations of economic output and reduction of gunk, depending on what kinds of environmental regulations you choose. Sketch a graph of a production possibility frontier with environmental quality on the horizontal axis, measured by the percentage reduction of gunk, and with the quantity of economic output on the vertical axis. Which choices display productive efficiency? How can you tell? Which choices show allocative efficiency? How can you tell? In the choice between K and L, can you say which one is better and why? In the choice between K. and N, can you say which one is better, and why? If you had to guess, which choice would you think is move likely to represent a command-and-control environmental policy and which choice is more likely to represent a market-oriented environmental policy, choice L or M? Why?

Recommended textbooks for you

Essentials of Economics (MindTap Course List)
Economics
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:Cengage Learning
Microeconomics: Private and Public Choice (MindTa...
Economics
ISBN:9781305506893
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:Cengage Learning
Economics: Private and Public Choice (MindTap Cou...
Economics
ISBN:9781305506725
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:Cengage Learning
Macroeconomics: Private and Public Choice (MindTa...
Economics
ISBN:9781305506756
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:Cengage Learning
Principles of Microeconomics
Economics
ISBN:9781305156050
Author:N. Gregory Mankiw
Publisher:Cengage Learning
Principles of Economics 2e
Economics
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:OpenStax