Public goods are always provided by the government because private markets do not have an
Public goods are always provided by the government because private markets do not have an incentive to provide them.
69) If you can consume a good without having to pay for it, the good must be nonrival in consumption.
70) Fireworks on the night on July 4th are neither rival nor excludable.
71) The free-rider problem is larger for private goods than it is for public goods.
72) Alissa is studying for her principles of economics exam. She tells her study partner that "Only a very small number of people ever get to become astronauts and go into space. Therefore space exploration is not a public good." Do you agree? Explain.