In the model of public goods

Question

Quizplus · Accepted Answer

In the model of public goods, consumers can benefit from both private goods (which are rival and excludable) and public goods (which are non-rival and non-excludable). Government spending is not necessarily pure waste, as it can provide public goods that individuals cannot easily provide for themselves, such as national defense or infrastructure. Private consumption and government spending are not equal, as private goods are generally bought and sold in markets while public goods are often provided by the government through taxation. The government does not necessarily provide goods at no cost to the public, as public goods are paid for through taxes or other government revenues.

In the Model of Public Goods