Podcast
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are things that everyone can use and using them doesn’t stop others from using them as well
are things that everyone can use and using them doesn’t stop others from using them as well
Two Main Characteristics of public goods?
Two Main Characteristics of public goods?
it’s tough to keep someone from using them, even if they don’t pay for it
it’s tough to keep someone from using them, even if they don’t pay for it
when one person uses a public good, it doesn’t reduce how much is left for others
when one person uses a public good, it doesn’t reduce how much is left for others
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since everyone benefits, everyone pays a little through taxes
since everyone benefits, everyone pays a little through taxes
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the government can build and maintain things like parks and street lighting
the government can build and maintain things like parks and street lighting
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sometimes, the government can encourage businesses to provide public goods with incentives or regulations
sometimes, the government can encourage businesses to provide public goods with incentives or regulations
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are both excludable and rivalrous in consumption
are both excludable and rivalrous in consumption
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means that these goods can be owned or controlled by someone, and when one person uses them, it reduces their availability for others
means that these goods can be owned or controlled by someone, and when one person uses them, it reduces their availability for others
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are rivalrous in consumption but not excludable
are rivalrous in consumption but not excludable
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- means that when one person uses these resources, it reduces the availability for others, but it’s difficult to prevent people from using them
- means that when one person uses these resources, it reduces the availability for others, but it’s difficult to prevent people from using them
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the consumption / use of the good or service by one person reduces the availability of the good or service to another person
the consumption / use of the good or service by one person reduces the availability of the good or service to another person
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- that may only be possessed or consumed by a single user
- that may only be possessed or consumed by a single user
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– that cannot be exclude a certain individual or group of individuals from using them
– that cannot be exclude a certain individual or group of individuals from using them
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are excludable but not rival in consumption
are excludable but not rival in consumption
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means that access to these goods can be controlled or limited, but when one person uses them, it doesn’t significantly affect their availability for others
means that access to these goods can be controlled or limited, but when one person uses them, it doesn’t significantly affect their availability for others
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the degree to which a good, service or resources can be limited to only paying costumers
the degree to which a good, service or resources can be limited to only paying costumers
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that consumption of a good by one person does not reduce the amount available for others
that consumption of a good by one person does not reduce the amount available for others
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