InvestorWords.com
public goods
Definition
An exception to the free-market system marked by two characteristics. First, if one person consumes public goods, the amount available remains the same. Second, once public goods are available, no one can be stopped from consuming them for free. An example is the protection provided by police, fire departments, and the military.
Recommended Articles from InvestorGuide.com
Related Videos
Featured Advertiser
Get our free Term of the Day newsletter!



