A type of item necessary to be purchased in order to be used, such as food, and in so doing, will prevent another consumer from taking part in consuming that same product or item.
Related information about private good:
- Private good - Wikipedia, the free encyclopedia
A private good is defined in economics as "an item that yields positive benefits to people" that is excludable, i.e. its owners can exercise private property rights, ...
- Public good - Wikipedia, the free encyclopedia
The opposite of a public good is a private good, which does not possess these properties. A loaf of bread, for example, is a private good: its owner can exclude ...
- Private Good Definition | Investopedia
A product that must be purchased in order to be consumed, and whose consumption by one individual prevents another individual from consuming it.
- What is private good? definition and meaning
Definition of private good: An item of consumption that, if used by one party, may not be available for others, such as food and clothing. See also public good.
- EconPort - Private Goods v. Public Goods
A private good IS rival and excludable. An an example of a private good is my professor's car. BMW has manufactured a fixed number of 5 series sedans; there ...
- Law as a Private Good
Law as a Private Good. A Response to Tyler Cowen on the Economics of Anarchy. In a recent article in this journal, Tyler Cowen (1992) argues that an ...
- Public Goods & Private Goods
Sep 23, 2012 ... Le Shuttle is a private good – the service is excludable, rival in consumption and rejectable. But not all providers of public goods make a profit.
- Is Education a Public Good or a Private Good? - Innovations - The ...
Jan 18, 2011 ... Advocates for more generous support of students frequently bemoan what they perceive as a social shift from viewing higher education as a ...