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Economics
Externality
Subsidy
Collective action
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Lighthouse
Rivalry (economics)
Public works
Public finance
Public choice theory
Marginal cost
Rent seeking
Public services
Common-pool resource
Crony capitalism
Private good
Public management
Key terms:
public goods
costs
benefits
economics
free rider
private good
marginal
consumption
provision
exclude
subsidies
consumers
street light
monopoly
club goods
externalities
incentive
free rider problem
economists
lighthouse
assurance contract
coase
public goods production
profits
entrepreneur
beneficiaries
information good
consumption of that good
marginal rate
subsidize
collective action
pledge
national defense
social norms
global public
good is provided
willing to pay
pure public
tragedy of the commons
market failure
marginal social
marginal cost
such goods
exclusion
quorum
air pollution
litter
privileged group
milkshake
voluntarily
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