Public+goods

Cale Cassel __Public Goods__ Economics defines a public good as a one that: it is not practically possible to charge for the use of it, and the cost of the good is indivisible so the marginal cost is zero (King, 2007). An important characteristic of a public good is that the consumption of the good does not significantly decrease the availability of the good to others. Common examples of public goods are:
 * Governmental services (defense, law and order)
 * Abundant natural resources (air, water)
 * Streetlights
 * Lighthouses
 * Television
 * Knowledge
 * Fireworks

Free riders can become a problem with respect to some public goods. Because the consumption of public goods can not be accurately measured, free riding is difficult to deter. For example, a fireworks show may be valued at $10; however nothing is stopping someone from watching from their front porch and not paying at the event location.

References: King, W. (2007). //Public Goods in General//. Retrieved March 5, 2007 from Drexel University, Web site: [|http://william]-king.www.drexel.edu/top/prin/txt/Govch/PG6.html