Explain What a Public Good Is and Give an Example

question 29

Essay

Explain what a public good is and give an example. What problems are associated with determining what is a public good and how much of a public good should be provided?

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Definitions:

Mammals

The class of vertebrate animals distinguished by bodies covered with hair or fur, self-regulating temperature, and in females, milk-producing mammary glands.

Reptiles

are a class of ectothermic, scaled vertebrates that include snakes, lizards, turtles, and crocodilians, distinct for their ability to lay eggs on land.

Dynamic

Pertaining to the forces or processes that stimulate growth or change within a system or process.

Uniform

Clothing of a distinctive design worn by members of a particular group as a means of identification, often used by military personnel, school students, and employees of certain companies.