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Diagrams for public goods?

What type of diagram would you use to illustrate a public good? Can an externality diagram be used?


Also, does anyone have a really good definition for public goods?
I think you can use a private benefit diagram. The definition of a public good is a good which is both non-excludable and non-rivalrous in demand.

Non-excludable - you can't stop people from benefiting from it.
Non-rivalrous - people can still consume it after you have.

Hope that helps :smile:


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(edited 9 years ago)
Reply 2
Avatar for DrDre.97
DrDre.97
Original post by Fliirx
What type of diagram would you use to illustrate a public good? Can an externality diagram be used?


Also, does anyone have a really good definition for public goods?



A good/service underprovided by the private sector, both non rival and non excludable
Reply 3
Avatar for Fliirx
Fliirx
OP
Thanks guys!
Original post by DrDre.97
A good/service underprovided by the private sector, both non rival and non excludable


NO. It is NOT underprovided. It is NOT provided WHATSOEVER. That is what differentiates it from a MERIT good.

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