Problem 13

A public good is a product or service which is distributed to everyone in a society. Generally, states operate such facilities, which are compensated for jointly via taxes.

 

Police forces, domestic security, as well as the legal system are types of public goods. Certain fundamental amenities, like access to clean oxygen & drinking water, are frequently referred to as public goods.

Public goods are different from consumer goods because consumer goods are those which are purchased by the consumer and then consumed. However, public goods are those which are not need to be purchased most of the time.