Public goods are non-excludable and non-rival in consumption whereas Private goods are excludable and rival in consumption.
Public goods are non-excludable, so they suffer from a free-rider problem.
Public goods are goods meant for everyone to share. Private goods are goods meant for one person or one small group of people.
public goods would be overproduced
Public expenditure is a type of spending usually done by firms in the public sector, or government organisations, examples include: building of schools, dams, public and merit goods. Where as private expenditures are carried out by firms in the private sector of an economy, who have their main motive as profits. Examples of these expenditures include: setting up a factory, or expansion of a profitable outlet.
Private industries mainly work for profit purpose. If they provide public goods then it has to be priced at lower rates which will diminish their profit margins. Thus, it is difficult for private players to provide public goods.
Public goods are non-excludable, so they suffer from a free-rider problem.
Public goods are goods meant for everyone to share. Private goods are goods meant for one person or one small group of people.
public goods would be overproduced
People cannot be excluded from using goods while they can be excluded from using individual goods.
Public expenditure is a type of spending usually done by firms in the public sector, or government organisations, examples include: building of schools, dams, public and merit goods. Where as private expenditures are carried out by firms in the private sector of an economy, who have their main motive as profits. Examples of these expenditures include: setting up a factory, or expansion of a profitable outlet.
Private industries mainly work for profit purpose. If they provide public goods then it has to be priced at lower rates which will diminish their profit margins. Thus, it is difficult for private players to provide public goods.
because we have no lives
service industry
The non-excludability of public goods makes it difficult to profit from them.
The non-excludability of public goods makes it difficult to profit from them.
Trading is used to acquire goods from the people who produce them, and the retail sales business is how these goods are then sold to the general public.
quasi public goods have characteristics of both private and public goods including partial excludability , partial rivalry , partial diminishability