Question

At Chicago Cubs games, residents across the street from Wrigley Field can watch the game from their apartment windows. Many of these people probably never attend a game and pay for a ticket. How would we describe this economic problem

Answer 1

Answer:

There is a free-rider problem.

Explanation:

A free-rider is demonstrated as the economic problem in which the people continue to access or consume a resource without working or paying to ensure the upkeep of the resource.

As per the description, the given economic problem would be characterized as 'free-rider problem' as the resources are being consumed by the people('watch the game') without contributing a penny for it. This implies the burden on limited resources as people are not fairly paying to upkeep the resource and the resources tend to be overused or degenerated. Thus, 'the free-rider' problem has been demonstrated here.