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The first characteristic that a public good is nonexcludable means that it is costly or impossible to exclude someone from using the good. A public good is a good that is both non-excludable and non-rivalrous in that individuals cannot be effectively excluded from use and where use by one individual does not reduce availability to others. Public Goods Vs Private Goods Difference And Comparison The Investors Book An essential characteristic of a public good is that it is non-excludable. . It can serve many people at the same time without hindering the usage of one another. Examples The classical definition of a public good is one that is nonexcludable and nonrivalrous. - public goods are non-excludable so it isnt possible to stop someone receiving the benefits and so. A public good has two key characteristics. The classic example of a public good is a lighthouse. What are the two characteristics of public goods.
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