Question: Define public goods, provide examples, and explain the free rider problem. Why might the government need to provide public goods? What is the 'tragedy of
Define "public goods", provide examples, and explain the "free rider" problem. Why might the government need to provide public goods? What is the 'tragedy of the commons' and provide examples. Why may government need to intervene in scenarios like this? Define "externalities" and provide some examples of positive and negative externalities. What are government interventions in cases of externalities designed to achieve? Explain other common roles of government in the economy and provide examples. Discuss what the Christian response should be in situations where there is a danger of overuse of common resources? Provide a supporting scripture
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