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date: 17 August 2022

public good 

Source:
A Dictionary of Economics
Author(s):

Nigar Hashimzade,

Gareth Myles,

John Black

A good that no consumer can be excluded from using if it is supplied, and for which consumption by one consumer does not reduce the quantity available for consumption by any other. A public good is therefore non-excludable and non-rivalrous. As a consequence of these properties public goods cause ... ...

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