Goods

Question 1

Public Goods

Answer 1

• Non -rival in consumption
• Non-excludable- it is impossible to exclude someone from getting use of the good

Question 2

Private Goods

Answer 2

• Rival in consumption
• Excludable

Question 3

Merit Goods

Answer 3

The government believes that these goods are beneficial to citizens or consumers and the governments believe that the citizens deserve to consume these goods.

schooling, healthcare

Question 4

De-merit Goods

Answer 4

The government doesn’t believe that these goods are beneficial to citizens and that they should be discouraged from consuming these goods.

cigarettes alcohol drugs