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Associate Level Material

Appendix C

Differentiating Between Market Structures Table and Questions

Fill in the matrix and describe differences in public and private goods, common resources, and natural monopolies. Use your book and the Tomlinson video tutorials as a tool to help you answer questions about market structures.

| |Example |Is there a rival in consumption? |Is it excludable? |

| | | | |

|Private Good |Medication |Yes. |Yes. |

| | | | |

|Public Good |Knowledge. |No. There is one person who cannot take|No. |

| | |it from another person. | |

|Common Resource |Congested freeway or interstate. |Yes. It could lose resource value. |No. Only toll roads can offer the |

| | | |resource at cost. |

|Natural Monopoly |High-speed fiber optic internet. |No. |Yes. The fee can be paid for by |

| | | |resource. |

1. What is the difference...