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Public Goods & Common Resources (Public Goods (Examples (Mountains…
Public Goods
&
Common Resources
Public Goods
Characteristics
non-excludability (
pure
)
non-rivalry
Examples
Mountains (impervious)
air
Sun
national defense
Forests (impervious)
Common Resources
Characteristics
stock variable (core)
flow variable (stocked)
consists of a core resource (i.e. water)
care\consumption
natural or human made
Examples
forests (farmed)
mines (i.e. coal)
fishing grounds
pastures
irrigation system