Public goods, private goods and quasi-public goods

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7 Terms

1
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Public goods

Non-excludable and non-rival good that is not diminishable when someone else uses it and is funded through taxation.

2
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Public good example

Street lights

3
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Public good problem

Free-rider problem which means people who pay for it and people who don’t receive the same benefit from the good.

4
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Private goods

Rival and excludable

5
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Private good example

Chocolate bar as it can only be consumed by one consumer

6
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Quasi public good

Semi-excludable and semi-non-rival

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Quasi public good example

Tolls as most people can use it unless rush hour