Which of the Following Would Most Likely Be a Public

question 78

Multiple Choice

Which of the following would most likely be a public good?

• A) Sirius Satellite Radio is accessed through a subscription.
• B) iTunes sells songs through their website.
• C) a Mariah Carey CD
• D) Michigan Radio is the state's most listened-to public radio service.

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Definitions:

World Price

The international market price of a commodity or product, determined by global supply and demand forces.

Free Trade

The policy of allowing unrestricted import and export of goods between countries, without tariffs, quotas, or other restrictions.

Total Surplus

The sum of consumer and producer surplus, which measures the total benefit to society from conducting transactions in a market.

Autarky

A situation where an economy is self-sufficient and does not engage in international trade.