Recall the Application about the benefits generated when one country gathers information on global weather to answer the following question(s).
-Recall the Application. Weather monitoring is
A) a public good.
B) a private good.
C) impossible because it requires international cooperation.
D) efficiently provided by private markets because it is profitable.

Question

Quizplus · Accepted Answer

Weather monitoring is a public good because it is non-excludable, meaning it is impossible to prevent people from benefiting from it once it is provided, and non-rival, meaning its consumption by one person does not diminish its availability to others. Therefore, it is not efficiently provided by private markets because individuals have little incentive to pay for it if they can benefit from it without paying.

Recall the Application About the Benefits Generated When One Country