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Diskusi 7 Bahasa Inggris Niaga

1. A public good is a product that can be consumed by one individual without reducing availability to others and that no one can be deprived of, such as law enforcement, national defense, sewer systems, and public parks. 2. A quasi-public good is a hybrid type of good that can diminish in supply or availability under some circumstances, like public beaches and roads which are open to all but have a finite capacity. 3. Public goods are characterized as being nonrivalrous, meaning consumption by one does not reduce availability to others, and nonexcludable, meaning it is impossible to withhold the good from those who do not pay for it directly.

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923 views2 pages

Diskusi 7 Bahasa Inggris Niaga

1. A public good is a product that can be consumed by one individual without reducing availability to others and that no one can be deprived of, such as law enforcement, national defense, sewer systems, and public parks. 2. A quasi-public good is a hybrid type of good that can diminish in supply or availability under some circumstances, like public beaches and roads which are open to all but have a finite capacity. 3. Public goods are characterized as being nonrivalrous, meaning consumption by one does not reduce availability to others, and nonexcludable, meaning it is impossible to withhold the good from those who do not pay for it directly.

Uploaded by

Ramdhani
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Diskusi 7 Bahasa Inggris Niaga

What is a Public Good?

A public good is a product that one individual can consume without reducing its availability to
others and from which no one is deprived. Examples of public goods include law enforcement,
national defense, sewer systems, and public parks. As those examples reveal, public goods are
almost always publicly financed.

A public good is an item consumed by society as a whole and not necessarily by an individual
consumer. Public goods are financed by tax revenues. All public goods must be consumed
without reducing the availability of the good to others, and cannot be withheld from people who
do not directly pay for them. Law enforcement is also an example of a public good.

Some public goods are excludable, however—notably those that have nominal costs. Those
charges, however small, create a barrier to at least some people using them. An example is the
post office. It's excludable because, while it's provided for the public, it isn't free; costs such as
those for stamps must be paid.

What is a Quasi-Public Good?

Another hybrid type of good is described as "quasi-public." Sometimes characterized as "near-


public" or "impure public" goods, these can in some ways both dwindle in supply and become
unavailable, or at least compromised in availability, under some circumstances. Classic examples
here are public beaches and roads. In both cases, they're open to all, but their capacity is finite.
Once the beach, or its parking lot, are full, no further people may enjoy it. Once the road
becomes choked with traffic, its utility diminishes at best, and it may even become entirely
inaccessible.

Characteristics of Public Goods

Almost all public goods are considered to be nonrivalrous and nonexcludable goods. Nonrivalry
denotes any product or service that does not reduce in availability as people consume it.
Nonexcludability refers to any product or service that is impossible to provide without it being
available for many people to enjoy. Therefore, a public good must be available for everyone and
not be limited in quantity. A dam is another example of a public good. It is nonrivalrous and
nonexcludable because all people within a society benefit from its use without reducing the
availability of its intended function.
Summary

1. A public good has two key characteristics: it is nonexcludable and nonrivalrous. These
characteristics 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.

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

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