Compare and contrast a public good versus a private good, Ask an Expert

Economics

Compare and contrast a public good versus a private good. What are the principal characteristics of each? What are the two key characteristics of public goods? Is there a free rider problem when it comes to public goods? Why? Do you consider your local police force a public good or a private good? How come? How about your local TV service? Please explain your answer.

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Business Economics, Economics

Category:- Business Economics
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