SPEA V186 Exam 1 – Questions With Correct
Solutions
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Terms in this set (53)
public finance Concerns the role of -Allocatingresources;
government in: -Distributingincome& wealth;
-Stabilizingtheeconomy.
Government and Private Sector Private, for-profit (i.e.,"Proprietary") organizations
Focuses that focus on maximizing the wealth of the owner(s)-
shareholders.
oGovernment (i.e.,"Public") organizations that focus
on mission-centered goals, while at the same time
maintaining a"satisfactory financial condition."
oService organizations("Nonprofit or Not-for-
profit") that combine attributes of both for-profit
and public service organizations.
, The Three Main distinguishing 1) Payments to government are made by those who
characteristics of government 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.
Sectoral Differences: Public vs. -Markets
Private: Characteristics of the private -Exchange
sector: -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).
Sectoral Differences: Public vs. A notable absence of markets
Private: Characteristics of the public -Non-exchange relations
sector: -Absence of clear property rights
-Non-excludability
-Nonappropriability - 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).
Elements of Appropriability and table
Nonappropriability
Market Failure the under-provision or over-provision of good or
services if provided solely by private markets. (ex
Police protection•Disease control•Streets and
highways•Legal systems and
institutions•Environmental protection)
Solutions
Add to calendar
Play your way to mastery with fun games
Match Blocks Charms NEW
Terms in this set (53)
public finance Concerns the role of -Allocatingresources;
government in: -Distributingincome& wealth;
-Stabilizingtheeconomy.
Government and Private Sector Private, for-profit (i.e.,"Proprietary") organizations
Focuses that focus on maximizing the wealth of the owner(s)-
shareholders.
oGovernment (i.e.,"Public") organizations that focus
on mission-centered goals, while at the same time
maintaining a"satisfactory financial condition."
oService organizations("Nonprofit or Not-for-
profit") that combine attributes of both for-profit
and public service organizations.
, The Three Main distinguishing 1) Payments to government are made by those who
characteristics of government 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.
Sectoral Differences: Public vs. -Markets
Private: Characteristics of the private -Exchange
sector: -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).
Sectoral Differences: Public vs. A notable absence of markets
Private: Characteristics of the public -Non-exchange relations
sector: -Absence of clear property rights
-Non-excludability
-Nonappropriability - 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).
Elements of Appropriability and table
Nonappropriability
Market Failure the under-provision or over-provision of good or
services if provided solely by private markets. (ex
Police protection•Disease control•Streets and
highways•Legal systems and
institutions•Environmental protection)
