Market Structures Table and Questions

Market Structures Table and Questions - Axia College...

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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 No no Common Resource Fresh Meat Yes No Natural Monopoly Microsoft No Yes 1. What is the difference between a public good and a private good? Public goods are frequently purchased with local, state, and federal taxes as well as public financing from those in the regions. Goods that all persons require or have a necessity for are considered public goods. These goods are not intentional paid for and the public typically believes they should not have to or further contribute financially. Local, city, state and federal governments are the main providers of public goods. The market of public goods is rather large and is
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This note was uploaded on 10/15/2011 for the course XECO/212 XECO/212 taught by Professor Troymahone during the Spring '11 term at University of Phoenix.

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Market Structures Table and Questions - Axia College...

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