Economics Public Goods Questions
Public goods in the context of public sports stadiums and arenas refer to facilities that are non-excludable and non-rivalrous in nature. This means that once the stadium or arena is built, it is difficult to exclude individuals from using it, and one person's use of the facility does not diminish its availability for others. Public sports stadiums and arenas are typically funded and maintained by the government or public entities, and they provide benefits to the entire community, such as hosting sporting events, concerts, and other public gatherings.