Please enable JavaScript.
Coggle requires JavaScript to display documents.
Week 4 Activity 1 (Examples of public goods (GPS Satellites, law…
Week 4 Activity 1
Examples of public goods
GPS Satellites
law enforcement
roads (excepting toll roads)
Education
National defense
Characteristics of Common resources
That means, they can be used by virtually anyone. However, if one individual consumes common resources, their availability to other individuals is reduced.
The combination of those two characteristics often results in an overuse of common resources (tragedy of the commons).
Defined as products or resources that are non-excludable but rival.
characteristics of public goods
For something to qualify as a public good it must be inherently non-excludable and inherently non-rivalrous
it's a type of good that no one can exclude you from using, and that your use of that good does not in any way impact other people's use of it.
Examples of Common resources
timber
pasture
fish
irrigation system
fresh water