Private good

Rarity: Common

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At a glance

Class

Notion

Domain

Science and technology

In collections

Nobody has pulled it yet.

What Wikipedia says

A private good is defined in economics as "an item that yields positive benefits to people" that is excludable, i.e. its owners can exercise private property rights, preventing those who have not paid for it from using the good or consuming its benefits; and rivalrous, i.e. consumption by one necessarily prevents that of another.

Excerpt from the Wikipedia article “Private good”, under the CC BY-SA 4.0 license. Read the article on Wikipedia

Image: phototram, CC BY 2.0, via Wikimedia Commons.