SPEA V 186 Exam 1 Newest 2026 Complete Questions |
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SPEA V186 Midterm SPEA V186 Exam 1 Classroom items in French. wh
70 terms 53 terms Teacher 21 terms 5t
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Practice questions for this set
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an allocation of appropriated funds made by OMB or other executive budget agency for
agency obligations.
Choose an answer
The three main distinguishing parts of a
1 2 Common indicators of market failure (2)
government
3 allocation (allotment) or apportionment 4 Non-rival goods
Don't know?
Terms in this set (47)
The three main distinguishing parts of a government 1) Payments to government are made by those who do not expect to receive
repayment or economic benefits proportionate to the resources that are
provided;
(2) Purpose is other than to make profits, or profit equivalents; and,
(3) There is an absence of defined ownership interests.
, Characteristics of the private sector (5) -Markets
-Exchange
-Property rights
-Rights of exclusion
-Appropriability - ability to capture and retain value from production and
diffusion of goods and services that an individual or firm creates for its own
benefit (usually innovations).
Characteristics of the public sector -A notable absence of markets
-Non-exchange relations
-Absence of clear property rights
-Non-excludability
-Non-appropriability - inability to capture and retain value from production
and diffusion of goods and services that an individual or firm creates for its
own benefit (usually innovations).
Rival goods Exhaustion through consumption of the same good
Non-rival goods Not Exhausted through consumption of the same good
Excludable Exclusion of non-payers feasible
Non-excludable Exclusion of non-payers Not feasible
Elements of pure private goods Rival and excludable
Elements of pure public good Non-rival, non excludable
Elements of toll goods Excludable, non rival
Elements of common pool (property) good Rival, non excludable
market failure the under-provision or over-provision of goods or services if provided solely
by private markets.
ex: disease control
Common indicators of market failure (2) public goods
externalities
externalities Goods whose full range of costs or benefits are not captured in market prices.
Can be negative or positive.
Pollution (-)
Communicable disease (-)
Education (+)
Conservation (+)
Public good Goods whose inherent characteristics or market attributes result in either
under-or over-supply in the marketplace.
What is public finance Policies related to spending, taxing, and borrowing.
Concerns the role of government in:
-Allocating resources;
-Distributing income & wealth;
-Stabilizing the economy.
With 100% Correct Answers graded A+ Guaranteed
Success!!
Leave the first rating
Save
Students also studied
SPEA V186 Midterm SPEA V186 Exam 1 Classroom items in French. wh
70 terms 53 terms Teacher 21 terms 5t
kristinazuniga Preview reed_mathew_perlman Preview christine_Ingada Preview
Practice questions for this set
Learn 1 /7 Study with Learn
an allocation of appropriated funds made by OMB or other executive budget agency for
agency obligations.
Choose an answer
The three main distinguishing parts of a
1 2 Common indicators of market failure (2)
government
3 allocation (allotment) or apportionment 4 Non-rival goods
Don't know?
Terms in this set (47)
The three main distinguishing parts of a government 1) Payments to government are made by those who do not expect to receive
repayment or economic benefits proportionate to the resources that are
provided;
(2) Purpose is other than to make profits, or profit equivalents; and,
(3) There is an absence of defined ownership interests.
, Characteristics of the private sector (5) -Markets
-Exchange
-Property rights
-Rights of exclusion
-Appropriability - ability to capture and retain value from production and
diffusion of goods and services that an individual or firm creates for its own
benefit (usually innovations).
Characteristics of the public sector -A notable absence of markets
-Non-exchange relations
-Absence of clear property rights
-Non-excludability
-Non-appropriability - inability to capture and retain value from production
and diffusion of goods and services that an individual or firm creates for its
own benefit (usually innovations).
Rival goods Exhaustion through consumption of the same good
Non-rival goods Not Exhausted through consumption of the same good
Excludable Exclusion of non-payers feasible
Non-excludable Exclusion of non-payers Not feasible
Elements of pure private goods Rival and excludable
Elements of pure public good Non-rival, non excludable
Elements of toll goods Excludable, non rival
Elements of common pool (property) good Rival, non excludable
market failure the under-provision or over-provision of goods or services if provided solely
by private markets.
ex: disease control
Common indicators of market failure (2) public goods
externalities
externalities Goods whose full range of costs or benefits are not captured in market prices.
Can be negative or positive.
Pollution (-)
Communicable disease (-)
Education (+)
Conservation (+)
Public good Goods whose inherent characteristics or market attributes result in either
under-or over-supply in the marketplace.
What is public finance Policies related to spending, taxing, and borrowing.
Concerns the role of government in:
-Allocating resources;
-Distributing income & wealth;
-Stabilizing the economy.
