History Quiz / Public Goods, Common Resources

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Can you name the Public Goods, Common Resources?

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Definition Economic TermSymbol
The property of a good whereby one persons use diminishes other people's use.Fish
Goods rival in consumption but not excludableTree
Goods that are neither excludable nor rival in consumptionSun
Goods that are excludable but not rival.Cable
A person who receives the benefit of a good but avoids paying for it.Group of People
Goods that are both excludable and rival in consumption. College
The property of a good whereby a person can be prevented from using it.Fence
A parable that illustrates why common resources are used more than is desirable from the standpoint of a society as a wholeBuffalo

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