Question

Which one of the following is not a public good?

1) The formula for the chemical structure of Vitamin C
2) Wikipedia
3) Beethoven's 9th Symphony
4) The IU swimming pool

Answer 1

The IU swimming pool is not a public good, as it is excludable because not everyone can access it without permission or payment, unlike the nonexcludable nature of the other options listed.

Step-by-step explanation:

The question 'Which one of the following is not a public good?' requires us to differentiate between public goods and private goods. Public goods are defined by being nonexcludable and nonrival, meaning that one person's consumption of the good does not reduce its availability to others, and individuals cannot be prevented from using the good. Examples of nonexcludable goods include police protection, roads, and primary education, as these services are typically available to all citizens without direct charges. On the other hand, streaming music from satellite transmission programs and cell phone service are excludable because they generally require a subscription or payment to access.

Looking at the options given in the student's question, three of the items listed can be considered public goods: the formula for the chemical structure of Vitamin C, Wikipedia, and Beethoven's 9th Symphony are all nonexcludable and nonrival. However, the IU swimming pool is not a public good, as it is excludable; not everyone can freely access the pool without some form of permission or payment. Therefore, the IU swimming pool is the correct answer to the student's question.

Answer 2

4) The IU swimming pool is not a public good.

Explanation:

Public goods are characterized by two key attributes: non-excludability and non-rivalrous consumption. Non-excludability means that individuals cannot be excluded from using the good, and non-rivalrous consumption implies that one person's use does not diminish its availability to others.

The IU swimming pool (Option 4) does not meet the criterion of non-excludability, as access to the swimming pool can be restricted or controlled. Unlike public goods, such as the formula for the chemical structure of Vitamin C (Option 1), Wikipedia (Option 2), and Beethoven's 9th Symphony (Option 3), which are typically freely accessible and can be enjoyed by multiple individuals simultaneously without exclusion.

The IU swimming pool is an example of a club good, where access can be restricted, and individuals may need to pay for membership or entrance. This distinction highlights the difference between public goods and goods that exhibit characteristics of private or club goods. While the chemical formula, Wikipedia, and Beethoven's symphony can be shared and accessed by many without exclusion, the swimming pool's usage is more exclusive and subject to limitations, making it not a public good in economic terms.

In conclusion, understanding the economic principles of public goods helps distinguish between goods like the IU swimming pool and true public goods, clarifying the nature of their accessibility and consumption.