Question

Consider the different types of goods and related examples given in List-I and List-II respectively.

List-I
A. Pure public goods
B. Mixed goods (Quasi Public)
C. Pure private goods
D. Merit goods

List-II

• Street light, public sanitation
• Food, Clothing, Automobiles
• Elementary education, primary healthcare
• Toll road, Parks (Private Parks)

How many of the pairs given above is/are correctly matched?

1. Only one
2. Only two
3. Only three
4. None of the above

Answer 1

Correct Answer: Only two

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Explanation:

1. A. Pure Public Goods → Street light, public sanitation

   • Correct: Pure public goods are non-excludable and non-rivalrous, meaning they are available to everyone without depletion, such as street lights and public sanitation.

2. B. Mixed Goods (Quasi Public) → Food, Clothing, Automobiles

   • Incorrect: Mixed goods, also called quasi-public goods, are partially excludable and rivalrous. Examples include toll roads or parks with entry fees. Food, clothing, and automobiles are pure private goods, not quasi-public goods.

3. C. Pure Private Goods → Elementary education, primary healthcare

   • Incorrect: Pure private goods are excludable and rivalrous, such as food and clothing. Elementary education and primary healthcare are merit goods, not private goods.

4. D. Merit Goods → Toll road, Parks (Private Parks)

   • Correct: Merit goods are those that benefit society and are often subsidized by the government, like toll roads or private parks.

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Conclusion:

• Correct matches:
  A (Pure Public Goods) and D (Merit Goods).
• Hence, Only two pairs are correctly matched.

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