A good that is truly non-rival and non-excludable?
EJMR
Can anyone give me an example of a public good?
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There are examples, but the problem with a public good is that the definition may not be very useful to begin with.
A better definition would simply be goods that enter into each individual utility function in its entirety, which coincides with "commons", and existing mathematical treatment. These could be naturally available at zero cost or built by humans. Excludability is then not necessary for the definition.
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It's the opposite. Many non-public goods are provided by gov. But I've yet to hear of a true public good!
Anyone got an example? Are we pretty certain all goods can be provided through the market?
Sure all goods CAN be provided through a market, but in many situations the public sector will offer a better alternative than the private sector. This is called market failure. It will be covered in the second week of your econ 101 course. Patience.
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Arbitration (privately supplied law) is not only rival and excludable, but widely used! Easy!
The law is a public good.
Unfortunately we made the mistake of not prohibiting mindless virgins like Ben Shapiro from infesting middle class high schoolers like you with their garbage theories. -
Is there annoying than B.Shapi_r_o. He's like the guy who took freshman economics and thought it was physics.
The law is a public good.
Unfortunately we made the mistake of not prohibiting mindless virgins like Ben Shapiro from infesting middle class high schoolers like you with their garbage theories.