2007-10-21 01:31:34 · 4 answers · asked by Happy Square 1 in Social Science ➔ Economics
No. A free good is defined as good for which the quantity supplied would exceed the quantity demanded at a price of zero. Consider the markets for oil, diamonds, and beach front property. It's clear that these natural resources are not "free goods".
2007-10-21 04:50:36 · answer #1 · answered by helper 7 · 0⤊ 1⤋
Classical economics treats them as free and unlimited. Neoclassical economics factors in mining costs,etc, and uses that to calculate the cost of the good.
2007-10-21 04:47:16 · answer #2 · answered by Professor Sheed 6 · 0⤊ 0⤋
Economics usually treats them as free and unlimited and their costs is due to labor to extract/find them. There are theories about how ownership should be assigned by governments, and how owners will ration them if they are finite, but these are add ons and not part of the general theory.
2007-10-21 02:08:59 · answer #3 · answered by meg 7 · 0⤊ 0⤋
Free to whoever has the resources to take and keep them.
2007-10-21 02:13:02 · answer #4 · answered by John K 1 · 0⤊ 0⤋