What are the two characteristics of public goods? Explain the significance of each for public provision as opposed to private provision. What is the free-rider problem as it relates to public goods? Is U. S. border patrol a public good or a private good? Why? How about satellite TV?

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Araceli Mercado

Business

31 March, 17:39

What are the two characteristics of public goods? Explain the significance of each for public provision as opposed to private provision. What is the free-rider problem as it relates to public goods? Is U. S. border patrol a public good or a private good? Why? How about satellite TV?

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Kaia · Answer 1

Pubic goods are:

produced by the government for the welfare of the people with no cost

Public goods are for the welfare of people, produced by the government as it's the government's responsibility to care for it's people.

Pubic goods are at no cost in order for it to be accessible to everyone, without a financial barrier or limit.

The free-rider problem is a market failure where pubic goods are being accessed and benefitted from but it's not being paid for by the benefiting group.

U. S border control is public goods as we, the general public, do not pay for it and it's aim is our protection, it is for our wellbeing.

Satellite TV is private goods as it's manufactured by a business or entrepreneur, and is sold for their profit.