PUBLIC GOOD, QUASI PUBLIC
GOOD & PRIVATE GOODS
CIE A LEVEL/AQA/OCR/EDEXCEL
, PUBLIC GOODS
Public goods are goods that are:
Non-excludable
Non-rivalry
Non-rejectable
Zero incremental cost
Examples of public goods are
lighthouse and national defence
, Non-excludable
This means that once the good has
been provided for one consumer, it is
impossible to stop all other consumers
from benefitting from the good.
GOOD & PRIVATE GOODS
CIE A LEVEL/AQA/OCR/EDEXCEL
, PUBLIC GOODS
Public goods are goods that are:
Non-excludable
Non-rivalry
Non-rejectable
Zero incremental cost
Examples of public goods are
lighthouse and national defence
, Non-excludable
This means that once the good has
been provided for one consumer, it is
impossible to stop all other consumers
from benefitting from the good.
