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Sat 29 Nov, 2014 08:51 am
I was doing my econ homework, and got stuck on these questions. Help would be much appreciated!
1. Niagara Falls is a _____.
a) a private good
b) a common resource
c) a public good
d) a natural monopoly
2. Classify the following as a common resource, a public good, or neither:
i) Logging
ii) A canal through the arctic
iii) mining infrastructure
iv) a mine
v) tourism
3. _____ likely increases climate change.
a) logging
b) shipping through the Arctic Ocean
c) Tourism
d) both A and B
4. Firefighting service is _____ and _____.
a) nonrival; non excludable
b) nonrival; excludable
c) rival; nonexcludable
d) rival; excludable
Help with these questions would be well appreciated!
@EoMAW,
1. a common resource
2. A canal through the arctic