Business Terms and Jargon Explained
What is Public GoodA public good is a good that has two characteristics. It is non-rivalrous ie even if it is consumed by one person, is still available for consumption by others, and it is non-excludable ie once it is supplied it is not possible to exclude anyone from consuming it. Clean air is an example.
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Term created / updated 2007-03-16 16:05:09
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