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QUESTION

TITLE: GOOD PROVISION AND AGENTS Identifying and Providing Types of Goods Explain why some goods should be provided by the government and others...

TITLE:  GOOD PROVISION AND AGENTS

Identifying and Providing Types of Goods

Explain why some goods should be provided by the government and others should be provided by businesses.  Give a list, correctly identify types of goods based on excludability and rivalness.  Support your answer.

Task 1: Consider the following list of goods. For each good, explain the following points.

Is the good rival?

Is the good excludable?

Identify the type of good (Private Good, Public Good, Common Resource, or Quasi Public Good)

Are there any externalities associated with this good?

Explain whether the private market should provide this good or the government should provide this good. Explain in terms of whether the characteristics of the good would make it difficult to be provided by the private market or the government.

List of Goods:

A. A cup of coffee at a coffee shop

B. City fire protection

C. Polar bears in the Arctic

D. Clean air

The Principal Agent Problem

Task 2: Review the discussion in the lesson regarding the financial crisis. Discuss each of the following points. Use sources from the ITT Tech Virtual Library to add to your answer.

Define the principal agent problem.

Do corporate managers always act in the best interest of shareholders? Explain.

Research and present one CEO (Chief Executive Officer) pay package. Does this CEO earn more money if the company performs well? What penalty does the CEO receive if the company does not perform well?

Does the pay package of the CEO you presented add to or reduce the principal agent problem? Explain.

Submission Requirements:

This analysis assignment should be between 200 and 300 words for each task.

For each task, attach a Word document of 200 to 300 words that contains all answers.

Format: Double line space, Times New Roman, 12-point font

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