Public Good

In economics, a public good refers to a commodity or service that is made available to all members of a society [1].

A public good has two key characteristics which make it difficult for market producers to sell the good to individual consumers [2].

  • Nonexcludable means that it is costly or impossible for one user to exclude others from using a good

  • Nonrivalrous means that when one person uses a good, it does not prevent others from using it.