• Entry
  • Reader's guide
  • Entries A-Z
  • Subject index

The notion of public goods encompasses a range of goods that markets fail to allocate efficiently because they are nonrivalrous and nonexcludable in use. Goods that have these characteristics absolutely are termed pure public goods. A good is nonrivalrous when more than one person can derive ...

Loading
  • 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