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    Public Goods an-WPS Office

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    rizielpingcas82
    This document discusses different types of goods: private goods, public goods, common resources, and club goods. It defines the characteristics of excludability and rivalry in consumption. Private goods are both excludable and rival. Public goods are neither excludable nor rival. Common resources are rival but not excludable. Club goods are excludable but not rival. The document uses examples like ice cream cones, lighthouses, fishing, and fire departments to illustrate the different categories of goods. It concludes that public goods and common resources present economic challenges because they are not excludable and have value but no attached price.

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    Public Goods an-WPS Office

    Uploaded by

    rizielpingcas82
    7 views13 pages
    This document discusses different types of goods: private goods, public goods, common resources, and club goods. It defines the characteristics of excludability and rivalry in consumption. Private goods are both excludable and rival. Public goods are neither excludable nor rival. Common resources are rival but not excludable. Club goods are excludable but not rival. The document uses examples like ice cream cones, lighthouses, fishing, and fire departments to illustrate the different categories of goods. It concludes that public goods and common resources present economic challenges because they are not excludable and have value but no attached price.

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    This document discusses different types of goods: private goods, public goods, common resources, and club goods. It defines the characteristics of excludability and rivalry in consumption. Private goods are both excludable and rival. Public goods are neither excludable nor rival. Common resources are rival but not excludable. Club goods are excludable but not rival. The document uses examples like ice cream cones, lighthouses, fishing, and fire departments to illustrate the different categories of goods. It concludes that public goods and common resources present economic challenges because they are not excludable and have value but no attached price.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    7 views13 pages

    Public Goods an-WPS Office

    Uploaded by

    rizielpingcas82
    This document discusses different types of goods: private goods, public goods, common resources, and club goods. It defines the characteristics of excludability and rivalry in consumption. Private goods are both excludable and rival. Public goods are neither excludable nor rival. Common resources are rival but not excludable. Club goods are excludable but not rival. The document uses examples like ice cream cones, lighthouses, fishing, and fire departments to illustrate the different categories of goods. It concludes that public goods and common resources present economic challenges because they are not excludable and have value but no attached price.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 13

    Public Goods and

    common resources
    Chapter 11
    Objective for this lesson
    • To discuss about the value of
    goods and let people know
    their responsibility to it.
    Goods without prices provide challenge
    for economic analysis because they
    cannot figure out or maybe it's hard for
    them to get the whole status quo of the
    resources and it's seems that problem
    may arise for the allocation of resources
    when there are goods without market
    price.
    When thinking about the various goods
    in the economy, it is useful to them
    according to two characteristics.
    A.The excludable goods- it is when people be
    presented From using the goods.

    B. Rival in consumption- it is the good of one person


    that reduces another person ability to use it.
    The Different Kinds of Goods

    From the two characteristics ( the excludable and


    rival consumption)
    Divides goods into four categories these can help
    analyze economically.
    Private Goods
    Are both excludable and rival in consumption.
    Example: an ice cream cone. It become excludable
    when someone decides not to buy or eat the Ice
    cream cone. It's also become rival in Consumption
    when someone buy or eat an ice cream cone while
    others cannot eat the same cone.
    Public Goods
    This is neither excludable nor rival in consumption
    because people cannot be prevented in using public
    goods and it's not also reducing the abilities of
    someone else in using it.
    Example: A serin when it sounds, no one can prevent
    it to be heard by all ear's, so as the Public goods no
    one can prevent it to be used by all men.
    Common Resources
    Are in rival consumption but not excludable.
    Example: catching fish in the ocean, one fisherman
    can catch fewer that of the fisherman but no
    fisherman will avoid catching fish this show that
    there are common wherein people cannot avoid it
    even to the point of competing each other.
    The Club Goods
    Are excludable but not rival in consumption
    Example: the fire department, it is easy to exclude
    this fire protection and not one would bring into a
    competency level or in a rival in consumption. It is a
    kind of good wherein people can exclude but it's a
    good goods for house protection from burning.
    Maybe one can pay for a small cost but great
    protection for properties.
    By examining these four categories, it show that
    there are goods that are not excludable; the public
    goods and common resources wherein people
    cannot avoid to use it and these two are related to
    each other base on the study of externalities. These
    two goods were having something of value and has
    no price attached on it.

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