Practicing Success
Public Goods are always: |
Rivalrous but non-excludable Non-rivalrous and non-excludable Non-rivalrous but excludable Rivalrous and excludable |
Non-rivalrous and non-excludable |
Goods are typically considered public goods in modern economics if and only if they are non-rivalrous and non-excludable. Private commodities are rival and excludable goods. Non-excludable means that it is costly or impossible for one user to exclude others from using a good. Non-rivalrous means that when one person uses a good, it does not prevent others from using it. |