Question

what are public goods?

Answer 1

a commodity or service that is provided without profit to all members of a society, either by the government or by a private individual or organization

Answer 2

a commodity or service that is provided without profit to all members of a society, either by the government or by a private individual or organization.

In economics, a public good is a good that is both non-excludable and non-rivalrous in that individuals cannot be effectively excluded from use and where use by one individual does not reduce availability to others.

This is in contrast to a common good which is non-excludable but is rivalrous to a certain degree.

A public good is a product that one individual can consume without reducing its availability to another individual, and from which no one is excluded. Economists refer to public goods as "nonrivalrous" and "nonexcludable."

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