/*! This file is auto-generated */ .wp-block-button__link{color:#fff;background-color:#32373c;border-radius:9999px;box-shadow:none;text-decoration:none;padding:calc(.667em + 2px) calc(1.333em + 2px);font-size:1.125em}.wp-block-file__button{background:#32373c;color:#fff;text-decoration:none} Q.13 What are the two key characteris... [FREE SOLUTION] | 91影视

91影视

Log out

Learning Materials

Features

Discover

Chapter 13: Q.13 (page 316)

What are the two key characteristics of public goods?

Short Answer

Expert verified

Public goods are nonexcludable and non-rival.

Step by step solution

01

Content Introduction

Market producers cannot sell public goods to individual consumers because they are produced for the entire society. All products subsidized by taxes, on the other hand, are not considered public goods.

02

Content Explanation

Two essential characteristics of a public good are nonexcludable and nonrivalry. The term "nonexcludable" refers to the fact that one consumer cannot or will not be able to prevent another from using the goods. The phrase "non-rival" refers to the fact that one person's use of a product does not prevent others from doing so as well.

Unlock Step-by-Step Solutions & Ace Your Exams!

  • Full Textbook Solutions

    Get detailed explanations and key concepts

  • Unlimited Al creation

    Al flashcards, explanations, exams and more...

  • Ads-free access

    To over 500 millions flashcards

  • Money-back guarantee

    We refund you if you fail your exam.

Over 30 million students worldwide already upgrade their learning with 91影视!

One App. One Place for Learning.

All the tools & learning materials you need for study success - in one app.

Get started for free

Most popular questions from this chapter

What is the free rider problem?

Can a company be guaranteed all of the social

benefits of a new invention? Why or why not?

Is it inevitable that government must become

involved in supporting investments in new technology?

How do public television stations, like PBS, try to overcome the free rider problem?

When residents in a neighborhood tidy it and keep it neat, there are a number of positive spillovers: higher property values, less crime, happier residents. What types of government policies can encourage neighborhoods to clean up?
See all solutions

Recommended explanations on Economics Textbooks

Taxation Economics

Read Explanation
View all explanations

What do you think about this solution?

We value your feedback to improve our textbook solutions.

Study anywhere. Anytime. Across all devices.