Where are most production decisions made in the American economic system?

Who makes the decisions

How do we decide which sector of the economy should produce a good or service?


What is it called when people who don’t pay or benefit from an economic decision

Who provides when there is a market failure

What are the goods that are provided by the government called

How are these goods funded and provided

What are the characteristics of public goods

What is (per the textbook) a great example of public goods

What benefits are generated from something as simple as street lighting?

What is another textbook example of a public good?

Why is there no incentive for businesses to produce public goods

What is the “free rider” problem

What is the textbook example of the free rider problem

What is the most common way to address the free rider problem?

Who is responsible for the nation’s infrastructure?

What is essential to a nation’s economic health?

What is a negative externality?

What is a positive externality?

What is one of the most common negative externalities?

Limiting negative externalities is the role of whom?

Increasing the positive externalities of economic decisions is the role of whom?

What is the money that is spent by the government to increase a positive externality as widely as possible known as

What are the government programs that designed to help those who are struggling economically

How does a modern society address the issue of poverty?

What is the difference between private and public transfer payments

Who are the three groups that receive the most transfer payments from the government?