Public goods are goods that the free market cannot provide efficiently. Two characteristics distinguish public goods from private goods: non-rivalry and non-excludability. This entry defines these two characteristics, explains why goods that have these characteristics cannot be efficiently provided by the ...

  • Loading...
locked icon

Sign in to access this content

Get a 30 day FREE TRIAL

  • Watch videos from a variety of sources bringing classroom topics to life
  • Read modern, diverse business cases
  • Explore hundreds of books and reference titles