Profit before tax and Public goods: Difference between pages
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imported>Doug Williamson (Add link.) |
imported>Doug Williamson (Create page. Source: Economics help webpage https://www.economicshelp.org/micro-economic-essays/marketfailure/public-goods/) |
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''Economics''. | |||
Examples of 'pure' public goods include flood control, street lighting, policing and national defence. | |||
The definition of public goods includes non-rivalry and non-excludability. | |||
Non-rivalry means that when a public good is enjoyed, it doesn’t reduce the amount available for other people. | |||
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. | |||
== See also == | == See also == | ||
* [[ | * [[Antitrust law]] | ||
* [[ | * [[Cartel]] | ||
* [[ | * [[Competition & Markets Authority]] | ||
* [[ | * [[Economies of scale]] | ||
* [[ | * [[Free rider]] | ||
* [[ | * [[Monopolistic competition]] | ||
* [[ | * [[Monopoly]] | ||
* [[ | * [[Natural monopoly]] | ||
* [[Oligopoly]] | |||
* [[Perfect competition]] | |||
* [[Private sector]] | |||
* [[Public sector]] | |||
* [[Regulation]] | |||
* [[Trust]] | |||
[[Category:The_business_context]] | [[Category:The_business_context]] | ||
[[Category:Identify_and_assess_risks]] | |||
[[Category:Manage_risks]] |
Revision as of 00:52, 15 May 2020
Economics.
Examples of 'pure' public goods include flood control, street lighting, policing and national defence.
The definition of public goods includes non-rivalry and non-excludability.
Non-rivalry means that when a public good is enjoyed, it doesn’t reduce the amount available for other people.
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.