An example of a quasi-public good is:Multiple Choicepublic higher education.an automobile.a DVD player.national defence.
Question
An example of a quasi-public good is:
- public higher education.
- an automobile.
- a DVD player.
- national defence.
Solution
Analysis of the Options
-
Public Higher Education:
- Generally funded by the government and accessible to the public. It has characteristics of both public and private goods, providing broad access while still requiring some personal investment (tuition fees).
-
An Automobile:
- A private good that is excludable and rivalrous, meaning ownership prevents others from using it, and one person's use reduces availability for others.
-
A DVD Player:
- Another example of a private good, which is also excludable and rivalrous. It is purchased by individuals for personal use.
-
National Defence:
- A classic example of a public good that is non-excludable and non-rivalrous. National defense benefits all citizens regardless of their contribution to funding it.
Final Answer
Public higher education is an example of a quasi-public good. It combines elements of public goods (providing access to all) with aspects of private goods (tuition and fees requiring individual investment).
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