Please enable JavaScript.
Coggle requires JavaScript to display documents.
Public goods (Public good (Its non excludable, Once provided it is…
Public goods
Public good
-
-
-
An example is a street lamp, national defence and a flood defense
-
Private goods
-
Once provided, it is possible to stop others from using them
-
-
-
Free rider problem
-
With little incentive for firms to supply public goods, the government is less likely to intervene
-
-
-
Tragedy of the commons
If all people let their livestock such as as cows graze on common land, the resource would be deplated
-