Th1.3: Public Goods

Question 1

What are the two key characteristics of public goods?

Answer 1

non-rivalry

non-excludable

Question 2

What does non-rivalry mean?

Answer 2

that one person’s use of the good doesn’t stop someone else from using it

Question 3

What does non-excludable mean?

Answer 3

you cannot stop someone from accessing the good and someone cannot choose to not access the good

Question 4

What is a quasi-public good?

Answer 4

non-pure public goods

scenarios can make them excludable and rivalry but not supposed to be