Public Goods

In economics, a public good (also referred to as a social good or collective good) is a good that is both Non-Excludable and Non-Rivalrous.

"public goods such as clean air are underproduced by the free market." (Kelkar and Shah 2019:19)

"public goods are things that are 'non-rival' and 'non-excludable'." (Kelkar and Shah 2019:19)

"It is not possible to exclude any person from the benefits. Excludability is essential for firms to obtain a revenue stream" (Kelkar and Shah 2019:20)