What is a Public Good?
- A public good is a good or service for which it is not possible to establish individual property rights.
How Do I Remember It?
- Think of a public good as a “shared benefit.” It’s like a good or service that benefits everyone in society, regardless of whether they contribute to its provision or not.
Real World Example
- For example, national defense is often cited as a public good because once a nation provides defense services, such as military protection, it benefits all citizens within its borders, regardless of whether they pay taxes to fund it.
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By: Ryan Aquino
