public good

English - Turkish

Definition of public good in English Turkish dictionary: kamusal mal; Kamu yararı; (Ticaret) kamu malı
public goods: (Ticaret) kamu kesimi tahvilleri
public goods: kamu malları

English - English

Definition of public good in English English dictionary: a good that is non-rivalrous and non-excludable; The general welfare of the people; the best interests of the community; a good, such as national defense, that costs little or nothing for an extra individual to enjoy, and the costs of preventing any individual from the enjoyment of which are high; public goods have the properties of nonrivalrous consumption and nonexcludability; a good, such as national defense, that costs little or nothing for an extra individual to enjoy and the costs of preventing any individual from the enjoyment of which are high; public goods have the properties of nonrivalrous consumption and nonexcludability; a good or service that has the characteristics of non-rivalry in consumption and non-excludability (chapter 15); A good or service whose benefits may be provided to a group at no more cost than that required to provide it for one person The benefits of the good are indivisible and individuals cannot be excluded For example, a public health measure that eradicates smallpox protects all, not just those paying for the vaccination; A good with a low excludability and high substractability factor; Those goods whose benefits are available to everyone and from which no one can be excluded, and no one can fully appropriate the benefits; Freely accessible good which users do not compete with one another to consume Thus, nobody can appropriate the air, and consumption by one user does not impede consumption by others; A good that is both nonexcludable and nonrival A good is nonexcludable if it is not possible to prevent anyone from consuming the good once it has been made available to the public A good is nonrival if one person's consumption of that good does not reduce the quantity available for consumption by someone else; A good (or a service) that will not be produced and delivered if we rely solely on the free market These are called public goods by economists because they are consumed by the public, and their use cannot be restricted to the benefit of a single buyer or group of buyers Economists call this characteristic "non-excludability " There is no way to produce a public good without producing a value to society at large This in turn makes it all the more unlikely that an individual would pay out of his own pocket to see that the good is produced; The general services provided by government that are indispensable to the existence of an organised state and cannot be allocated to particular groups or beneficiaries; a product whose benefits cannot be restricted to certain individuals; Good with properties of being nonrival in consumption (one person's usage of it does not diminish another's ability to use it) and non exclusive (no one can be excluded from using it) such as national defense; a good which, once provided to one user, must be provided in the same amount to all users due to its non-rival and non-excludable nature [GBA]
public goods: - goods that may be enjoyed by any number of people without affecting other peoples' enjoyment For example, an aesthetic view is a pure public good No matter how many people enjoy the view, others can also enjoy it
public goods: Public goods are goods that would not be provided in a pure free-market system This is because they are goods that display two particular characteristics: Non-rivalry - consumption by one person does not reduce the amount available for others Non-excludability - once the good is provided it is impossible to stop people consuming it even if they haven't paid An example of this is defence It is impossible to charge people for defence as they consume it as the whole country is being defended at once Also one person being defended does not stop others being defended
public goods: "Public goods" are goods or services that cannot be withheld from customers who refuse to pay for them (nonexclusion), where the consumption of products or services by one person does not reduce its usefulness to others Examples include national defense, street lighting, flood control, public safety, and fire protection in a crowded neighborhood See also "private goods "
public goods: A good which can only be supplied to all if it is supplied to one and the availability of which is not diminished by any one consumer's use of it
public goods: benefit that can be enjoyed by other people, even if they did not pay for the benefit There is no way to exclude someone from benefitting from a public good
public goods: These are a type of common resource with a special feature, namely the impossibility of dividing the resource up into separate parts The obvious example is air Not only is the air not formally owned, but it cannot be partitioned The air you breathe is the same air I breathe (Jacobs, M 1993)
public goods: Goods characterized by very low levels of subtractibility and excludability, by contrast with Private goods above Low subtractability implies that a good is available to all consumers at the same time, and consumption by one consumer does not use up or reduce the supply available for another consumer Low excludability implies that if a good is provided to a consumer in a defined region then other consumers in that region cannot be easily excluded from consuming the same good An example of a pure public good is national security, which is available to all citizens of a country simultaneously Several other goods are quasi-public, having low levels of subtractibility and excludability Public goods are generally provided under public ownership, although several can be provided, through contract and regulation, under private ownership