Chapter+11+***

=Chapter 11 - Public Goods and Common Resources=

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 * Questions are asked in the podcast.

Summary:

In this chapter we learn about public goods and common resources, and other goods such as private goods and monopoly. It is first categorized into two : excludable or rival in consumption. Excludable is when someone is prevented from using it, and rival in consumption is when someone's usage of that good is diminished because of your usage. Public goods are neither rival in consumption nor excludable. Common resources are rival in consumption but not excludable.