Question

Give an example of a public good that you personally value. Explain how it is non-rival and comment on the degree to which it is non-rival. Explain how it is non-excludable and comment on the degree to which it is non-excludable.

Answer 1

A public good is a good that is both non-excludable and non-rivalrous, in that individuals cannot be excluded from use or could benefit from without paying for it.I personally value fresh air as a non-excludable and non-rival public good.because as we all know fresh air is really essential for living and no one possess the right to restrict it,

A public good must be both non-rivalrous, meaning that the supply doesn't get smaller as it is consumed, and non-excludable, meaning that it is available to everyone both these conditions are satisfied by the air we breath, Fresh air may be considered a public good as it is not generally possible to prevent people from breathing it in. Everyone has access to use them, and their use does not deplete their availability for future use. that are consumed by people, but whose supply is not affected by people's consumption making it nn rival in nature ,A good is non-excludable if one cannot exclude individuals from enjoying its benefits when the good is provided. For example, polluted air is a public bad, for the same reasons that clean air is a public good,making air non excludable.