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Unformatted text preview: government like national defense, social security stuff that you would not want a private company in charge of if you want to stay a free society. Private goods are opposite of public goods stuff like cars and computers. There are many company that provide the goods and service you need and pay for it keep people that do xeco212r1 not need it to get those goods unless they pay for them because the government will not buy it for them. 2. What is a common resource? Common resource is something that everyone needs and has. Like land, water, and oil. 3. What is a natural monopoly? It is a company that is the sole provider of good or service within the area and you have no choice but to use them with you want to use their service. Like the water you get from the city you have no choice to pay for it or you good without. xeco212r1...
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- Spring '11