public good meaning

WPublic good
  • In economics, a public good is a good that is both non-excludable and non-rivalrous in that individuals cannot be effectively excluded from use and where use by one individual does not reduce availability to others.
  • Public goods include fresh air, knowledge, lighthouses, national security, flood control systems and street lighting. Public goods that are available everywhere are sometimes referred to as global public goods.
  • Many public goods may at times be subject to excessive use resulting in negative externalities affecting all users; for example air pollution and traffic congestion.
public good
public good
  • Part-of-Speech Hierarchy
    1. Nouns
      • Singularia tantum
        • Uncountable nouns
    Source: Wiktionary

    Meaning of public good for the defined word.

    Grammatically, this idiom "public good" is a noun, more specifically, a singularia tantum.
    Definiteness: Level 1
    Definite    ➨     Versatile