Public, Private, Common, and Club Goods - Explained
Written by Jason Gordon
Updated at March 27th, 2023
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What is a Public Good?
A public good, also known as a social good or collective good, is a good that is rivalrous and non-exclusive. Further, it is made available or accessible to the public for consumption or use. It is generally paid for by the public at large.
Back to:ECONOMIC ANALYSIS & MONETARY POLICY
Related Topics
- Education - Private and Social Rate of Return
- Government Approaches to Encouraging Innovation
- Public Good
- Public, Private, Club, Common Goods
- Excludable and Rivalrous Goods
- What is the Free Rider Problem for Public Goods?
- Free Rider
- Social Loafing
- Role of Government in Paying for Public Goods
- What is the Tragedy of Commons for Common Resources?
- Income Inequality
- Poverty Line?
- Poverty Trap
- Public Safety Net
- Measuring Income Inequality
- Lorenz Curve
- Ladder of Opportunity
- Tradeoff between Incentives and Income Equality
