AP Microeconomics Positive Externalities and Public Goods — practice questions
16 free MCQs with worked solutions. Tap any question for the answer + explanation, or practice them all in the app.
Practice AP Microeconomics Positive Externalities and Public Goods in the app →The two defining characteristics of a public good are non-rival and:A piece of pizza is used as the standard example of:Radio stations, tornado sirens, lighthouses and street lights are all examples of:New knowledge often becomes what economists refer to as:The difficulty private companies face in supplying public goods is called the:The most prominent example given of a positive externality is:One way to encourage new technology is to guarantee the innovator an exclusive right through:A private good like a slice of pizza differs from a public good because it is:A street light is non-rival because one person benefiting from it:Technology is described as a positive externality but explicitly not:Because new knowledge behaves as a public good, the private sector tends to:The free rider problem arises specifically from which property of a public good?Intellectual property rights work by converting an idea from a public good into something:A tornado siren cannot be sold like a private good because the supplier cannot:Comparing a slice of pizza with a lighthouse beam shows that the pizza is:The reason technology counts as a positive externality is that its benefits reach: