Public good (economics)
In economics, a public good (also referred to as a social good or collective good) is a good that is both non-excludable and non-rivalrous. For such goods, users cannot be barred from accessing or using them for failing to pay for them. Also, use by one person neither prevents access of other people nor does it reduce availability to others. Therefore, the good can be used simultaneously by more than one person. This is in contrast to a common good, such as wild fish stocks in the ocean, which is non-excludable but rivalrous to a certain degree. If too many fish were harvested, the stocks would deplete, limiting the access of fish for others. A public good must be valuable to more than one user, otherwise, the fact that it can be used simultaneously by more than one person would be economically irrelevant.
Public good - Wikipedia Jump to content From Wikipedia, the free encyclopedia (Redirected from Public good (economics) ) Good that is non-excludable and non-rival For the general concept, see Common good . Aids to navigation such as lighthouses are often used as an example of a public good, as they benefit all maritime users, but no one can be excluded from using them. Infrastructure Grand Coulee Dam Assets and facilities Airports Bridges Broadband Canals Coastal management Critical infrastructure Dams Electricity Energy Hazardous waste Hospitals Irrigation Levees Lighthouses Parks Pipeline Po
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