Question: Question 2. Public goods and commons/commons excludable and rival in consumption characteristics of goods with an example . Define private property, public property, joint resource

Question 2. Public goods and commons/commons

excludable and rival in consumption characteristics of goods with an example .

Define private property, public property, joint resource and club property. Give an example for each.

Explain the free rider problem , which is a common situation in public goods . Give an example.

Explain the common property tragedy situation, which is frequently encountered in common resources/properties. Give an example.

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