Public goods are often thought to be goods or services that are provided by the government,...
Public goods are often thought to be goods or services that are provided by the government, but that is confusing cause and effect. What are the characteristics of a public good? Hint: Who provides the public good is not one of the characteristics.
Homework Answers
All goods and services provided by the government are not public goods . there are certain features that must be satisfied:
- Non-Rival: Public goods are non rival. Consumption by one person does not reduces its availability for another person.
- Non-exclusion : Person who does not pay for it, can be debarred from its consumption.
these two condition must be met for any good that is supposed to be public good.
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Public goods are often thought to be goods or services that are
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