LESSON 11 NOT-SO-PRIVATE GOODS AND SERVICES Finding the Efficient Quantity $/unit Demand Supply $18 $12 $6 Number of Units 11-1 HIGH SCHOOL ECONOMICS 3RD EDITION © COUNCIL FOR ECONOMIC EDUCATION,

Download Report

Transcript LESSON 11 NOT-SO-PRIVATE GOODS AND SERVICES Finding the Efficient Quantity $/unit Demand Supply $18 $12 $6 Number of Units 11-1 HIGH SCHOOL ECONOMICS 3RD EDITION © COUNCIL FOR ECONOMIC EDUCATION, 

LESSON 11 NOT-SO-PRIVATE GOODS AND SERVICES
Finding the Efficient Quantity
$/unit
Demand
Supply
$18
$12
$6
0
10
20
30
Number of Units
11-1
HIGH SCHOOL ECONOMICS 3RD EDITION © COUNCIL FOR ECONOMIC EDUCATION, NEW YORK, NY
LESSON 11 NOT-SO-PRIVATE GOODS AND SERVICES
Characteristics of Goods
Rival
• A unit of the good cannot be consumed by
more than one person at one time.
Excludable
• People who do not pay for the good can be
prevented from consuming it.
11-2
HIGH SCHOOL ECONOMICS 3RD EDITION © COUNCIL FOR ECONOMIC EDUCATION, NEW YORK, NY