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.
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Related Terms
goods, tax
'public goods
' appears in the definitions of these terms on BusinessDictionary.com
public finance, liberalism, private good, pro bono, third sector
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