What are public goods?

  1. We keep on hearing this term around economics and public policy making, but do we mean by “public goods”?
  2. You just need to keep 2 things in mind – 
  3. A public good (or service) may be consumed without reducing the amount available for others.
  4. It is not possible to deny access to individuals who choose not to pay for them.
  5. For example – roads (not the toll roads), pulse polio drops and such universally available items.
  1. We keep on hearing this term around economics and public policy making, but do we mean by “public goods”?
  2. You just need to keep 2 things in mind – 
  3. A public good (or service) may be consumed without reducing the amount available for others.
  4. It is not possible to deny access to individuals who choose not to pay for them.
  5. For example – roads (not the toll roads), pulse polio drops and such universally available items.

By Root

Caretaker @civilsdaily

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