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1.4, Government intervention, diagrams :green_cross: - Coggle Diagram

- - - - Non-rival:
      - consumption of a good or service by one person does not restrict consumption by other people
      - Non-excludable:
      - the benefits from a good or service cannot be confined solely to those that paid for it
- - - - Finding the right level of intervention can be difficult
      - Regulation could be too tight or too lax
      - If government does not back up regulation with sanctions people may ignore it
- - - - used to lower the price of a good that creates a positive externality