Question

Categorize the following goods and services as private goods, public goods, quasi-public goods, or common resources:

1. A television broadcast of the World Series.
2. Mail delivery.
3. Education in a public school (Grades K through 12).
4. Education in a private school (Grades K through 12).
5. Hiking in a large park (no congestion) surrounded by a fence.
6. Hiking in a large park (no congestion) not surrounded by a fence.
7. A private good.
A) 1 - Public, 2 - Quasi-public, 3 - Public, 4 - Private, 5 - Common resource, 6 - Public, 7 - Private
B) 1 - Quasi-public, 2 - Public, 3 - Common resource, 4 - Private, 5 - Quasi-public, 6 - Common resource, 7 - Public
C) 1 - Public, 2 - Private, 3 - Common resource, 4 - Private, 5 - Common resource, 6 - Public, 7 - Private
D) 1 - Quasi-public, 2 - Private, 3 - Public, 4 - Private, 5 - Public, 6 - Common resource, 7 - Quasi-public

Answer 1

The categorization of the goods and services includes both public and private goods, quasi-public goods, and common resources. The television broadcast of the World Series is considered quasi-public, mail delivery is a public good, education in public schools is also a public good, education in private schools is a private good, hiking in a large park surrounded by a fence is a common resource, hiking in a large park not surrounded by a fence is public, and a private good is classified as private.

Step-by-step explanation:

Based on the provided information, the categorization of the goods and services is as follows:

1. A television broadcast of the World Series - Quasi-public
2. Mail delivery - Public
3. Education in a public school (Grades K through 12) - Public
4. Education in a private school (Grades K through 12) - Private
5. Hiking in a large park (no congestion) surrounded by a fence - Common resource
6. Hiking in a large park (no congestion) not surrounded by a fence - Public
7. A private good - Private