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What are the characteristics of a public good?

Posted on April 15, 2014 at 6:55 PM

A public good is a good that is typically provided by the government - such as national defense and street lights - and contains the following two characteristics:

1. Shared consumption (non-rivalrous): one person's use of the good does not prevent someone else from using it.

2. Non-exclusion: cannot restrict anyone from using the good.

AP Microeconomics Unit 4 Role of Government

Categories: AP Microeconomics, Micro Unit 4 Role of Government

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