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Economics and Personal Finance
IV.1 Application
June28

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Public goods are wanted and needed by all. Without them, our lives would not be the same. We would not enjoy public events and would have to pay for, or live without, certain services such as the National Defense. We rely on such goods and services tremendously.

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- Public Goods are non-rival, meaning they can be consumed by more than one person at a time.
- They are also non-excludable. Access to such goods cannot be restricted to those who have paid to use it.

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Goods and services provided by the government that can be used by everyone. They can be shared and they do not exclude anyone from using them.