Overview
Public goods are essential resources that benefit all members of society, characterized by their non-excludability and non-rivalry. Understanding public goods is crucial for addressing issues like the free-rider problem, which can hinder their provision. Collective action plays a vital role in ensur...
Key Terms
Example: Clean air and national defense.
Example: Community clean-up events.
Example: Street lighting.
Example: Public parks.
Example: Not paying taxes but using public services.
Example: Pollution from a factory affecting nearby residents.
Related Topics
Key Concepts
Non-excludabilityNon-rivalryFree-rider problemCollective action theory