Economics Public Goods Questions
The concept of public goods in the context of public parks and recreation areas refers to the idea that these spaces are non-excludable and non-rivalrous. This means that once a park or recreation area is provided, it is available for use by all individuals in the community, and one person's use of the park does not diminish its availability for others. Additionally, it is difficult to exclude individuals from using these spaces, as they are open to the public. Public parks and recreation areas are typically funded and maintained by the government or public entities, as they provide benefits to the entire community and are not easily provided by private markets.