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4 Provision Of Public Goods Ppt Download Economics has defined two fundamental characteristics of goods Most non excludable goods and bads are provided locally—city parks, television, air pollution A consumer can effectively be excluded through location It will be too costly to travel to consume those goodsIn economics, a public good (also known as a social good or collective good) is a good that is both nonexcludable and nonrivalrous, in that individuals cannot be excluded from use or could benefit from without paying for it, and where use by one individual does not reduce availability to others or the good can be Excludable vs non excludable economics

Definition of Nonrenewable/depletable Resources An economic resource that cannot be replaced once used Examples of nonrenewable resources include Oil Coal Minerals like zinc, magnesium, lithium Clean Water supplies – clean water is potentially nonrenewable For example, radiation from a nuclear power plant disaster could make waterMineral Resources Definition, Types, Use and Exploitation! Factors of production are the resources people use to produce goods and services; 1 Non economic resources definition