What is the difference between privates goods and services and public goods and services?

What is the difference between privates goods and services and public goods and services?
Hhsmith57 Answered Most Recently
Goods: All things from which individuals derive satisfaction or happiness Services: Mental or physical labor or help purchased by consumers. Examples are the assistance of physicians, lawyers, dentists, repair personnel, house cleaners, educators, retailers, and wholesalers; items purchased or used by consumers that do not have physical characteristics. Private goods and services: Goods that can be consumed by only one individual at a time. Private goods and services are subject to the principle of rival consumptionPublic goods and services: Goods for which the principle of rival consumption does not apply; they can be jointly consumed by many individuals simultaneously at no additional cost and with no reduction in quality or quantity. Principle of rival consumption: The recognition that individuals are rivals in consuming private goods because one person's consumption reduces the amount available for others to consume.
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