Common good (economics) facts for kids

Wild fish are an example of common goods. They are non-excludable, as it is impossible to prevent people from catching fish. They are, however, rivalrous, as the same fish cannot be caught more than once.

In Economics common goods are a kind of good. Common goods have two properties:

• It is not possible to prevent people from using them (called excludability)
• A person making use of the good will reduce its amount.

An example for a common good is wild fish.

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• Public good

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  Wild fish are an example of common goods. They are non-excludable, as it is impossible to prevent people from catching fish. They are, however, rivalrous, as the same fish cannot be caught more than once.

See also

In Spanish: Bien común (economía) para niños