Asked by
Ethan Schock
on Nov 11, 2024
Verified
Private goods are excludable and nonrival in consumption.
Private Goods
Products and services that are exclusive and distinctly owned, with their use limited to the owner or individuals who have permission.
- Gain an appreciation for the role of public goods, the impact of externalities, and the contrast between private and public sector requirements.
Verified Answer
FW
Learning Objectives
- Gain an appreciation for the role of public goods, the impact of externalities, and the contrast between private and public sector requirements.