XECO212 Week 4 CheckPoint Market Structures Table and Questions

XECO212 Week 4 CheckPoint Market Structures Table and Questions

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Axia College Material Appendix C Differentiating Between Market Structures Table and Questions Fill in the matrix and describe differences in public and private goods, common resources, and natural monopolies. Use your book and the Tomlinson video tutorials as a tool to help you answer questions about market structures. Example Is there a rival in consumption? Is it excludable? Private Good Pickles Yes Yes Public Good Police Officers No Non excludable item. Common Resource Fresh Meat Yes Non excludable item. Natural Monopoly Microsoft No Yes 1. What is the difference between a public good and a private good? The differences between goods and their production fall into four categories; public goods, private goods, ones of a common resource and those considered a natural monopoly. Public goods are often paid through local, state and federal taxes and public financing from those in the regions. The things which all persons require or have a necessity for are considered public goods. These things are not intentional paid for and
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This note was uploaded on 10/21/2010 for the course ECO 212 AACL0RVXH3 taught by Professor Shivers during the Spring '10 term at University of Phoenix.

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XECO212 Week 4 CheckPoint Market Structures Table and Questions

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