https://padlet.com/jclerch/au7wfbp3lqff en-us 2018-05-30 21:09:04 UTC 2022-02-14 16:37:13 UTC hello@padlet.com jclerch https://padlet.com/jclerch/au7wfbp3lqff/wish/264670084 2018-05-31 01:58:40 UTC https://padlet.com/jclerch/au7wfbp3lqff/wish/264670084 jclerch https://padlet.com/jclerch/au7wfbp3lqff/wish/264677839 2018-05-31 02:43:18 UTC https://padlet.com/jclerch/au7wfbp3lqff/wish/264677839 jclerch https://padlet.com/jclerch/au7wfbp3lqff/wish/264749033

Using the concepts of rivalry and excludability, and providing examples, distinguish between public goods (non-rivalrous and non-excludable) and private goods (rivalrous and excludable).

Explain, with reference to the free rider problem, how the lack of public goods indicates market failure.

Discuss the implications of the direct provision of public goods by the government.

Using the concepts of rivalry and excludability, and providing examples, distinguish between private goods (rivalrous and excludable) and common access resources (non-excludable but rivalrous).

Explain that lack of a pricing mechanism for common access resources means that these goods may be overused/depleted/degraded as a result of activities of producers and consumers who do not pay for the resources they use, and that this poses a threat to sustainability. 

]]> 2018-05-31 10:54:15 UTC https://padlet.com/jclerch/au7wfbp3lqff/wish/264749033 jclerch https://padlet.com/jclerch/au7wfbp3lqff/wish/264860807 2018-05-31 18:11:43 UTC https://padlet.com/jclerch/au7wfbp3lqff/wish/264860807 jclerch https://padlet.com/jclerch/au7wfbp3lqff/wish/264860859 2018-05-31 18:11:58 UTC https://padlet.com/jclerch/au7wfbp3lqff/wish/264860859