, ECS3704 Assignment 1 (COMPLETE ANSWERS)
Semester ; 100% correct solutions and explanations
Dear students
Analyse the difference between public and private goods in table
format. Explain why certain goods such as higher education are
regarded as mixed goods or quasi-public goods.
Write a maximum of 1 A4-page for 20 marks. Use your textbook,
search on Google Scholar and the Unisa library and use the
Harvard method of referencing for any sources used, cited and for
the reference list. Use Grammerly.com to edit the language.
The Difference Between Public and Private
Goods and the Classification of Mixed Goods
Introduction
The classification of goods into public and private
categories is essential in economics to determine
how they are produced, consumed, and funded.
Public goods are those that are non-rivalrous and
non-excludable, meaning that consumption by one
person does not reduce availability for others, and no
individual can be effectively excluded from using
them.
Semester ; 100% correct solutions and explanations
Dear students
Analyse the difference between public and private goods in table
format. Explain why certain goods such as higher education are
regarded as mixed goods or quasi-public goods.
Write a maximum of 1 A4-page for 20 marks. Use your textbook,
search on Google Scholar and the Unisa library and use the
Harvard method of referencing for any sources used, cited and for
the reference list. Use Grammerly.com to edit the language.
The Difference Between Public and Private
Goods and the Classification of Mixed Goods
Introduction
The classification of goods into public and private
categories is essential in economics to determine
how they are produced, consumed, and funded.
Public goods are those that are non-rivalrous and
non-excludable, meaning that consumption by one
person does not reduce availability for others, and no
individual can be effectively excluded from using
them.
