Public Goods, Externalities, and the Role of Government — Flashcards | AP Microeconomics | FatSkills

Public Goods, Externalities, and the Role of Government — Flashcards

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Private goods
Goods that are both rival and excludable. Only one person can consume the good at a time, and consumers who do not pay for the good are excluded from the consumption. Examples include a tube of toothpaste or an airline ticket."
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