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Unformatted text preview: No. Yes and no Yes because it is supposed to be paid for or password protected. But some people can log into others internet so in a way its not. xeco212r1 1. What is the difference between a public good and a private good? A public good is something that everyone has equal rights to use if permitted. A private good is owned by a specific person and that person has the rights to it. 2. What is a common resource? It is basically a natural or mad-made system is very hard to copy and become competition for it. 3. What is a natural monopoly? It’s something that happens when high start of costs of operating a business but it is essential to be sure that the consumer is not being robbed and the prices are jacked up. xeco212r1...
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This note was uploaded on 05/30/2011 for the course XECP 212 taught by Professor A during the Spring '11 term at University of Phoenix.
- Spring '11