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Public Goods and Private Resources (Public Goods (Examples (national…
Public Goods
and
Private Resources
Public Goods
Characteristics
non-excludable
non-rivalrous
incentive to free ride
Examples
national defense
parks
research programs
uncongested non-toll roads
Blue Angels air show
Common Resources
Characteristics
non-excludable
rival in consumption
no incentive to prevent over-use
Examples
environment
congested non-toll roads
fish in the ocean
free parking on city streets
Town Common grazing land