Government-Provided Goods

Public goods

Goods that are non-excludable and non-rivalrous, meaning people cannot easily be prevented from using them and one person's use does not reduce their availability to others.

Community goods

Goods provided by the government for the benefit of the community, often funded through taxation. Example: roads and public parks

Merit goods

Goods that are beneficial to individuals and society but may be under-consumed if left entirely to the market.

Repo rate

The interest rate at which the Reserve Bank lends money to commercial banks, influencing borrowing costs and spending.