A product (or service) with benefits from which no-one can be excluded, no matter who pays for it. Use of a public good by one person does not diminish its availability of its benefits to others (e.g. national defence)
a good or service that has two characteristics: nonrivalry in consumption and nonexcludability.
A good (or a service) that will not be produced and delivered if we rely solely on the free market. These are called "public goods" by economists because they are consumed by the public, and their use cannot be restricted to the benefit of a single buyer or group of buyers. Economists call this characteristic "non-excludability." There is no way to produce a public good without producing a value to society at large. This in turn makes it all the more unlikely that an individual would pay out of his own pocket to see that the good is produced.
The public or common good is that set of goals which promotes the overall well-being of a citizenry. The public good amounts to those goals which individuals in a community have in common and achieve by sharing ideas and working together.
a good, such as national defense, that costs little or nothing for an extra individual to enjoy, and the costs of preventing any individual from the enjoyment of which are high; public goods have the properties of nonrivalrous consumption and nonexcludability
See common good.
A good that is provided for users collectively, use by one not precluding use of the same units of the good by others.
goods with nonrival consumption and nonexcludable benefits have a strong potential for publicness. For example, it generally costs little or nothing to give an additional person access to statistical data.Yet only some data are in the public domainavailable for all people to use free of charge. Other data are private and must be purchased. Thus it is important to distinguish between a good's potential and de facto publicness. Only de facto public goods are actually available for all people to consume.
goods available to all (nonexclusive), whose use by one person does not reduce their availability to others (nonrival).
a commodity or service that people must consume in common, such as national defense, street lighting, or medical research
a good for which "it is possible at no cost for additional persons to enjoy the same unit
a good, often provided by a nonprofit organization, where one person's use does not reduce the amount available for others and where no one can be excluded from its use (for example, clean air and public parks)
a good that (a) you cannot exclude others from using (or enjoying) once it has been provided, and that (b) can provide benefits to additional people at zero cost
a good that is non-depletable and non-excludable, as we illustrate in a moment
a good that is nonrival in consumption
a good that is nonrivalrous (anyone can use it without interfering with anyone else's ability to use it) and nonexcludable (it's hard to prevent anyone from using it)
a good that, once produced, is undiminished by being used by one or more users (it is non-depletable) and available to all (it is non-excludable)
a good which can be consumed by more than one individual at a time (nonrivalry) and whose consumption cannot be denied a consumer who desires it (nonexclusion) once the good is provided
a non-rival non-excludable good that benefits almost everyone in a polity
a resource from which all may benefit, regardless of whether they have helped create the good (e
A good that is nonrival and nonexclusive. Nonrival meansthat the marginal cost of providing the good to an additional consumer is zero. Nonexclusive means that people cannot be excluded from consuming the good (whether or not they pay for it).
A good that generates a social benefit that everyone can enjoy and that no one can be deprived of. Examples include national defense and clean air.
A good or service that can be consumed simultaneously by everyone and from which no one can be excluded. (p. 204)
A good that is non-rivralrous (your consuming it does not prevent me consuming it) and non-exclusive (there is no way of preventing you from consuming it). A clean environment is a public good; an apple is not a public good. See chapter 8 for discussion.
Where there is a benefit to wider society.
a good that costs little or nothing for an extra individual to enjoy, and that it costs a great deal to prevent an extra individual from enjoying, such as national defense
A good that has the property that all consumers can enjoy it jointly, without any one individual's consumption reducing others' ability to consume. Thus no one need be excluded from consuming it.
A pure public good is one, which, if made available to one person, automatically becomes available to all others in the same amount. There are relatively few pure public goods, but a pretty good example is national defense.
A public good is a good or service which can be consumed simultaneously by everyone, even if they don't pay for it. A pubic good is non-excludable in consumption. A public good can exist in nature (such as the air you breathe), can be produced by a government (such as national defense), or can be produced by private individuals or firms (such as over-the-airwaves radio programs). A public good is nearly an opposite to a private good.