After reviewing the information listed on the background materials page, address the following questions in an essay or short-answer form. Support all your answers with references:
1. Explain the difference between positive and normative economics. Give a real-time example of each that you found in doing some outside research.
2. After doing some additional research on your own along with the assigned reading on public goods, answer the following questions:
a. What are the two main characteristics of this type of good?
b. What is the biggest “problem” with allocating public goods?