Economics Public Goods Questions
The concept of public goods in the context of infrastructure development refers to goods or services that are non-excludable and non-rivalrous in nature, meaning that they are available to all members of society and one person's use does not diminish the availability for others. In infrastructure development, public goods can include essential facilities such as roads, bridges, schools, hospitals, and utilities like water and electricity. These goods are typically provided by the government or public sector as they are necessary for the overall well-being and economic development of a society.