|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