private good

Definition

A type of item necessary to be purchased in order to be used, such as food, and in so doing, will prevent another consumer from taking part in consuming that same product or item.

Use private good in a sentence

Since they were in the private good market they knew there would always be demand because it could not be shared or ussd by others.

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Eli made sure that he purchased enough private good so that the individuals receiving assistance from his charity would be well-fed.

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ABC Corporation made a fortune from selling private goods to wealthy consumers in the form of concert tickets and hight tech gadgets.

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private funds private income