PROBLEMS AND APPLICATIONS

PROBLEMS AND APPLICATION I. Think about the goods and services provided by state and federal  governments. a. Using the classification in Figure I, explain which category each of the following goods falls into. • interstate highways • university education • national...

QUESTIONS FOR REVIEW

QUESTIONS FOR REVIEW 1. Explain what is meant by a good being excusable. Explain what is meant by a good being rival in consumption.” Is a pizza excusable? Is it rival in consumption? 2_ Define and give an example of a public good. Can the private market provide...

Save the Parks, and Make a Profit

Save the Parks, and Make a Profit It is common knowledge that our national parks are overcrowded, deteriorating, and broke. Some suggest that we address these problems by requiring reservations, closing some areas, or a skin, Ingress to increase financing the National...

In The News

In The News Should Yellowstone Charge as Much as Disney World National parks, like roads, can be either public goods or common resources. If congestion is not a problem, a visit to a park is not rival in consumption. Yet once a park becomes popular, it suffers from...

CASE STUDY

CASE STUDY WHY THE COW IS.HOT EXITING? Throughout history, many species of animals have been threatened with extinction. When Europeans first arrived in North America, more than 60 million buffalo roamed the continent. Yet hunting the buffalo was so popular during the...