Difference between revisions of "Public good"
Jump to navigation
Jump to search
(New page: A public good is a good which is nonexcludable and nondepletable. The first condition means that it is impossible to exclude consumers from partaking in the good, and the second condit...) |
(No difference)
|
Revision as of 04:48, March 29, 2007
A public good is a good which is nonexcludable and nondepletable. The first condition means that it is impossible to exclude consumers from partaking in the good, and the second condition means that one consumer's consumption of the good does not prevent others from consuming it.