Economics Public Goods Questions Medium
The concept of public goods as a regional quasi-public good refers to goods or services that exhibit characteristics of both public goods and quasi-public goods at a regional or local level.
Public goods are non-excludable and non-rivalrous in consumption, meaning that once provided, they are available to all individuals in a society and one person's consumption does not diminish the availability for others. Examples of public goods include national defense, street lighting, and public parks.
On the other hand, quasi-public goods are partially excludable and non-rivalrous. They can be restricted to certain individuals or groups, but their consumption does not reduce their availability for others. Examples of quasi-public goods include toll roads, cable television, and private schools.
When considering public goods at a regional level, certain goods or services may exhibit characteristics of both public goods and quasi-public goods. For instance, a regional transportation system, such as a subway or bus network, may be accessible to all individuals within a specific region, making it non-excludable like a public good. However, it may require a fare or ticket for usage, making it partially excludable like a quasi-public good.
Similarly, regional infrastructure projects like bridges or dams may benefit the entire region by providing essential services, but they may also require some form of user fees or taxes for maintenance and operation, making them partially excludable.
The concept of public goods as a regional quasi-public good recognizes that certain goods or services may have characteristics that fall between the strict definitions of public goods and quasi-public goods, depending on the regional or local context in which they are provided.