Explain the Characteristics of and the Differences Between Public Goods

question 206

Essay

Explain the characteristics of and the differences between public goods and private goods.Give examples of each and discuss why they are classified the way they are.

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Definitions:

Universal Moral Rules

Fundamental ethical principles that are widely accepted and applied across different cultures and societies.

Categorical Imperative

A central concept in the moral philosophy of Immanuel Kant that dictates an action is morally right if it can be universally applied.

Lies

False statements made with the deliberate intention to deceive; an intentional untruth.

Prima Facie Duty

An obligation that appears to be binding upon first view, but may be overridden by stronger moral considerations.