Question

Determine whether each of the following goods is a private good, a public good, a common resource, or a club good.

A large, beautiful fountain in a town square
A new keyboard for you to play in your friend's band
A free-weight station in a fitness room that is open to the public

Answer 1

Explained

Step-by-step explanation:

Public goods are those goods which can be used by all the members of the society , whereas the private goods are have single ownership. Similarly, Common resources are the resources that can be accessed by few privileged

A large, beautiful fountain in a park: This is a public good, since it satisfying the definition of public goods.

A dock on a lake that is open to the public: This is not a public good, since it doesn’t satisfies the definition of Public feature. The dock can be used by those public who can pay. This is actually a common resource, because this is expensive and its access to public can be detrimental

A new drone that you take turns flying with your friends: This is clearly,a private good, since the consumption of it is solely depending on private ownership.