Summary
Summary public goods
- Module
- The Role of Markets
- Institution
- OCR
All points in the specification box
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Public hoods Goods that :are consumed collectively and are :
a) Non re
jettable cannot :
be rejected by people due to collective supply
-
↳ Non exllud able Individuals cannot be excluded from
-
:
consuming the good even
if they haven't paid for it
a) Non rival When one consumer consumes the good , it doesn't effect another
-
:
individuals ability to consume it
E9 Iam P0A submarine Flood detente , National defence
.
, ,
Quasi public Hood - :
Goods that are semi -
rival semi
,
-
excladable or semi -
rejectede
Eg . Police service M25 motorway , open beach
,
Private hood : Goods that are considered Watrous , ex cloud able and rejection e
Free Rider Problem : where the individual
-
is willing to pay to consume the good as they know if
someone else buys it they can benefit too since they're non ex Undone
-
,
↳ Create a tree Mamet
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