Public Finance

Public Finance - SIGN I N AFTER CLASS Public F inance Ma...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: SIGN I N AFTER CLASS Public F inance Ma rket Failu res Monopoly Externalities Negative Pollution Second hand smoke Drunk drivers Positive More t rees Vaccinations Public goods Non-excludable Nonr ival rous i.e. public parks M ili tary National defense Air Rival rous Goods I f one person uses a good another person is prevented from using it Consumption exhausts stock of a r ival rous good Scarcity i.e. cupcake cake I f a good is r ival rous, Efficient to charge a price Nonr ivalrous Goods Consumption doesn't exhaust stock of good i.e. TV Internet Ar t Charging a price would discourage consumption without any increase in benefit Excludable Goods Lim itat ions on who can receive the good i.e. UNC basketball t ickets Airline f l ight Concert Movies Pu re P r ivate Good Excludable Rival rous Efficiently provided by market Collective Good Nonr ival rous Excludable Ar t ificial scarcity Common Resource Rival rous Nonexcludable Regulation, property r ights Pu re Public good Nonexcludable Nonr ival rous ...
View Full Document

This note was uploaded on 03/26/2008 for the course ECON 101 taught by Professor Balaban during the Fall '07 term at UNC.

Page1 / 3

Public Finance - SIGN I N AFTER CLASS Public F inance Ma...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online