Asked by
Nikhil Chavan
on Nov 17, 2024
Verified
The phenomenon of free riding is most closely associated with which type of good?
A) Private goods
B) Club goods
C) Inferior goods
D) Public goods
Free Riding
Occurs when individuals benefit from resources, goods, or services without paying for them, often in the context of public goods.
Public Goods
Goods that are non-excludable and non-rivalrous, meaning they are accessible to all members of a society and one individual's consumption does not reduce availability to others.
- Understand the concept of public goods, including the free-rider problem and its implications for the provision of public goods.
- Distinguish between different types of goods (private, public, club, common resources) based on their characteristics.
Verified Answer
AM
Learning Objectives
- Understand the concept of public goods, including the free-rider problem and its implications for the provision of public goods.
- Distinguish between different types of goods (private, public, club, common resources) based on their characteristics.
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