Question

What are the characteristics of public goods? Based on your answer, should health care be a public good?

Answer 1

Solution: There are two main characteristics of public good and they are :

1. Non rivalarly : This means that the use of good (public good) by one doesnot reduce the availability of goods for others.For example air is a public good.The use of air by one individual doesn't reduce the quantity of air for others.

2.Non excludable: This means that no one can be excluded from its use.It is freely available and people need not pay for it so it can be used freely by each and every individual whoever wishes to.

Health is generally not considered as a public good. But yes health care should be a public good. Health is a very important factor for every nation. If health care if available free of cost people need not worry about their bills and they can get cured easily.

Apart from this efforts for universal health care coverage in all the nations will make health care a public good. But as of now health care is not a public good.This is because a individual cannot get a good health without paying for it. So the availability of health service also reduces if one is consuming that.Hence it is not a public good.