Question 3(a)
[Maximum number: 8]
With the help of examples, explain the nature and characteristics of free goods and private goods (economic goods) and consider the significance of the distinction between these two types of good.

Practise distinguishing free goods from scarce private economic goods using resource cost, rivalry and excludability rather than whether the user pays at the point of use.
With the help of examples, explain the nature and characteristics of free goods and private goods (economic goods) and consider the significance of the distinction between these two types of good.