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| ''Economics''.
| | See Random walk. |
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| Examples of 'pure' public goods include flood control, street lighting, policing and national defence.
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| The definition of public goods includes non-rivalry and non-excludability.
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| Non-rivalry means that when a public good is enjoyed, it doesn’t reduce the amount available for other people.
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| Non-excludability means that it is not possible both to provide such a good and prevent others enjoying it. For this reason, public goods are more likely to be efficiently provided by the public sector, rather than by the private sector.
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| == See also == | | == See also == |
| * [[Antitrust law]] | | * [[Random walk]] |
| * [[Cartel]]
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| * [[Competition & Markets Authority]]
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| * [[Economies of scale]]
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| * [[Monopolistic competition]]
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| * [[Monopoly]]
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| * [[Natural monopoly]]
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| * [[Oligopoly]]
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| * [[Perfect competition]]
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| * [[Private sector]]
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| * [[Public sector]]
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| * [[Regulation]]
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| * [[Trust]]
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| [[Category:The_business_context]]
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| [[Category:Identify_and_assess_risks]]
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| [[Category:Manage_risks]]
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Revision as of 20:37, 7 May 2016
See Random walk.
See also
