Items which can be jointly consumed by many consumers simultaneously without any loss in quantity or quality of provision e.g. a lighthouse. Public goods are therefore goods that would not be provided in a pure free-market system. This is because they display two particular characteristics: 1. Non-rivalry - consumption by one person does not reduce...
Found on
http://www.encyclo.co.uk/local/20140
Items which can be jointly consumed by many consumers simultaneously without any loss in quantity or quality of provision e.g. a lighthouse. Public goods are therefore goods that would not be provided in a pure free-market system. This is because they display two particular characteristics:
Found on
http://www.encyclo.co.uk/local/20414
No exact match found.
