econ exam 2 review
0.0(0)
Studied by 0 people
Call Kai
Learn
Practice Test
Spaced Repetition
Match
Flashcards
Knowt PlayCard Sorting
1/4
There's no tags or description
Looks like no tags are added yet.
Last updated 5:38 PM on 3/26/26
Name | Mastery | Learn | Test | Matching | Spaced | Call with Kai |
|---|
No analytics yet
Send a link to your students to track their progress
5 Terms
1
New cards
excludable definition
can i stop another person from consuming the good
2
New cards
Rival definition
does an additional person consuming the good reduce the enjoyment of others consuming the good
3
New cards
what category do public goods fall in
non-excludable and non-rival
4
New cards
definition of common goods
gooods that are non-excludable and rivalrous
5
New cards
coase theorem definition
if property rights are clearly defined and transaction costs are low, then people can negotiate privately to fix externalities and reach an efficient outcome, no matter who initially has the rights
