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Social Sci LibreTexts

11: Market Failure- Public Goods and Common Resources

  • Page ID
    52865
    • 11.1: Public Goods
      There are four types of goods in economics, which are defined based on excludability and rivalrousness in consumption.
    • 11.2: Common Resources
      The tragedy of the commons is the overexploitation of a common good by individual, rational actors.