PPSCFPSCNTSPakistan govt jobs
- Subject
- Public Goodseconomics-mcqs › public-goods
- Published
- 1 Jun 2019
- Last updated
- 28 May 2026
Explanation
Common resources are goods that are available for everyone to use but are limited in supply. A national park fits this description as it is accessible to the public but can be overused. Firework shows and national defense are public goods, while iron ore is a private resource.
More Public Goods MCQs
Practice related questions from the same subject.
- 1.What term describes a good from which individuals can be prevented from accessing or using it?
- 2.Which type of good is impacted by a negative externality in a way that reduces market efficiency?
- 3.Which type of good does a positive externality influence market efficiency similarly to?
- 4.Who is described as a free rider in economic terms?
- 5.Why do private markets struggle to supply public goods effectively?
- 6.How would you classify a product supplied by a natural monopoly in terms of rivalry and excludability?
- 7.Which of the following best describes a public good?
- 8.What do you call someone in the UK who frequently watches BBC TV but does not pay the required TV licence fee?
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