About This Chapter
Public Goods & Government in Microeconomics - Chapter Summary and Learning Objectives
Each lesson in this chapter is designed to enhance your comprehension of public goods and government in microeconomics. Review the lessons in any sequence you desire to learn the definitions associated with public and private good. Also, explore examples and review theories related to this subject area. The lessons can make it easier for you to complete homework assignments or study for tests.
Feel free to access the lessons as often as you'd like from your smartphone, tablet or home computer. A self-assessment quiz is available with each lesson to gauge your comprehension of public goods and government in microeconomics. A chapter exam is also available that offers a broader review of the lessons. If you have questions about topics covered in this chapter, be sure to submit them to our experts. Taking these steps can help you better understand the following:
- The meaning of public good in economics
- How private good is defined
- Ways public goods are delivered
|Public Good in Economics: Definition, Theory & Examples||Define public good in economics, and explore its theory and examples.|
|Private Good: Definition & Examples||Study the definition and examples of private goods.|
|Delivery of Public Goods||Describe how the government provides public goods to citizens.|
1. Public Good in Economics: Definition, Theory & Examples
Have you ever gone to the mall when there was a power outage at your house or gone into a nice cool cafe on a hot day to beat the heat? This lesson defines and discusses the theory of public goods. You will learn what public goods are and how to identify them.
2. Private Good: Definition & Examples
In this lesson, we will define private good. We will compare it to a public good and provide examples. This will be followed by characteristics and a conclusion that helps capture the main points.
3. Delivery of Public Goods
The lesson will define what a public good is as well as address how the government provides these goods. The lesson will also describe the two characteristics which make up public goods.
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Other chapters within the AP Microeconomics: Exam Prep course
- Foundational Economic Concepts
- Economic Systems & Structures
- Supply & Demand in Markets
- Elasticity of Markets in Microeconomics
- Microeconomics & Consumer Behavior
- Production & Costs in Economic Markets
- Firm Behavior & Monopoly in Microeconomics
- Factor Markets in Microeconomics
- Public Policy, Government & Microeconomics
- AP Microeconomics Flashcards