Please help with an Economics Question...

Question

Question: Which of the following would be considered to be a public good?

a) A Pizza

b) Half-time entertainment at the Super Bowl

c) A local dance club

d) A light bulb

I am thinking that it's B, but this stuff is so confusing... please help. Thank you.

Answer 1

I would have to agree with you that the most correct answer is b.

The super bowl is broadcast on network TV, making it pretty easily accessible to everyone fairly equally and w/o much expense.

Answer 2

I think we must to see difference between public goods and private goods to make the correct selection.

.- In first place, all have access to public good. to private good only have access its owner.

.- In public goods the role of government is high because usually there is not enough supplier for it.

I see the option d) can adapted to the shown ideas if we suppose it is located in public way. If we think it is located in our room then d) is not an option.

I did not find the way how the rest of options can be seen like public goods.

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Sorry guys but if you want to enjoy the Half-time entertainment at the Super Bowl you must purchase the tickets...it is a complementary goods for those who buys tickets for game.  Many years ago we can tell it was a public good because it was seen by public TV but today it can seen only by payed TV. Some public TV transmit it the week after Super Bowl, I do not know if you refer to this.

Answer 3

- PIZZA is accessible to only it's owner. we don't just go around taking people's pizza, right?  PRIVATE GOOD.

- HALF-TIME ENTERTAINMENT AT THE SUPER BOWL is almost free, or close to it. its open to the public and anybody can view the super bowl. PUBLIC GOOD.

- ALOCAL DANCE CLUB is a public good, but also a private good. it COULD be accessible to the public, or the owner could kick every one out and dance with himself. being that the owner has the right to kick people out makes the dance club a PRIVATE GOOD.

-A LIGHT BULB can be both a public good or a private good, for the same reasons for the dance club. light bbulbs are public but if there is always a owner of them. if they are at a store sitting on a shelf, the owner of the lightbulbs are the owner of the stores. once the light bulbs are purchased there is a new owner. therefor light bulbs are a PRIVATE GOOD.

in conclusion, half-time entertainment at the super bowl is a public good.

the half time is not owned by anybody, it is simply there for your enjoyment. tehrefor the correct answer is B, half time entertainment at the super bowl.

hope this helps! goodluck!

Answer 4

That was a tough concept for me too.  Here is how I figured those out.  First, if one person uses it, does it diminish the supply for others?  If you eat the pizza, I don't get any so pizza is not a public good.  

Second, can anyone be excluded from using it?  If we assume it takes a ticket to get into the game, it is also not a public good since I cant go without a ticket.  A local dance club might have a dress code, or a cuteness code that would exclude messy people.  The location would exclude anyone far away.

The light bulb comes the closest to a public good.  Use by one person does not lessen the ability of others to use it, and unless it has an adjustable shade, it can't be excluded.

In real life, the only thing I feel is a public good is air.