A. the rivalness problem
B. the public goods problem
C. the Tragedy of the Commons.
D. The free-rider problem.
Economics Mcqs
A free rider is a person who ?
A. receives the benefits of a good but avoids paying for it.
B. pays for a good but fails to receive any benefit from the good
C. fails to produce goods but is allowed to consume goods.
D. produces a good but fails to receive payment for the good
A positive externality affects market efficiency in a manner similar to a ?
A. rival good
B. public good
C. private good
D. common resource
A negative externality affect market efficiency in a manner similar to ?
A. an excludable good.
B. a private good
C. a common resource
D. a public good.
Which of the following is an example of a common resource ?
A. a firework displays
B. national defense
C. iron one
D. a national park
If a person can be prevented from using a good, the good is said to be ?
A. excludable
B. a common resource
C. a public goods
D. rival
The most important factors of production are ?
A. labor, land, and capital
B. water, earth and knowledge
C. money, stocks and bonds.
D. management finance and marketing
The value of the marginal product of labor is ?
A. the price of the output times wage of labor
B. the price of the output times the marginal product of labor
C. none of these answers
D. the wage of labor times the quantity of labor
E. the wage of labor times the marginal product of labor
A decrease in the demand or fish ?
A. decrease the value of the marginal product of fishermen reduces their wage, and reduces employment in the fishing industry
B. increase the value of the marginal product of fishermen increase their wage, and increase employment in the fishing industry.
C. decrease the value of the marginal product of fishermen, reduces their wage, and increases employment in the fishing industry
D. increase the value of the marginal product of fishermen increase their wage and decreases employment in the fishing industry
An increase in the demand for apples will cause all but which of the following ?
A. a decrease in the number of apple pickers employed
B. an increase in the value of the marginal product of apple pickers
C. an increase in the price of apples
D. an increase in the wage of apple pickers