Common_good_(economics), Common_good_(economics) Information, Common_good


bird supplies, bird food, bird cages, bird toys
field force, voltage across, voltage drop permeability, tuner, tuned circuit
bowel syndrome, vietnam veteran, ibs self, vietnam veterans, ibs support

For the philosophical term, see common good.

the common good is something where there is nothing bad about it.

(excludability)

	Excludable	Non-excludable
Rivalrous	Private goods food, clothing, toys, furniture, cars	Common goods / (Common-pool resources) water, fish, hunting game
Non-rivalrous	Club goods cable television	Public goods national defense, free-to-air television, air
Private and public goods

Common goods which take the form of a renewable resource, such as fish stocks, grazing land, etc., are sustainable in two cases:

As long as demand for the goods withdrawn from the common good does not exceed a certain level, future yields are not diminished and the common good as such is being preserved.

If access to the common good is regulated at the community level by restricting exploitation to community members and by imposing limits to the quantity of goods being withdrawn from the common good, the tragedy of the commons may be avoided. Common goods which are sustained thanks to an institutional arrangement of this kind are referred to as common-pool resources.

Sometimes, common goods and club goods are subsumed under the broader term of public goods. However, common goods should not be confused with a different type of public goods: social goods, which are defined as goods that could be delivered as private goods, but are delivered instead by the government for various reasons (usually social policy). This second definition of public goods does not refer to the characteristics of the goods (such as rivalrousness and excludability), but rather to the type of their provision.

This article does not cite any references or sources. (December 2007)
Please help improve this article by adding citations to reliable sources. Unverifiable material may be challenged and removed.

Types of goods

public good - private good - common good - common-pool resource - club good - anti-rival goods

rivalrous good and non-excludable good complement good vs. substitute good free good vs. positional good

(non-)durable good - intermediate good (producer good) - final good - capital good
inferior good - normal good - ordinary good - Giffen good - luxury good - Veblen good - superior good
search good - (post-)experience good - merit good - credence good - demerit good - composite good

This article is licensed under the GNU Free Documentation License. It uses material from Wikipedia