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What is Private Goods
Private goods is an economic term that refers to a specific type of goods, their key characteristics in contrast to public goods are rivalrous consumption and excludable consumption.

Private goods is an economic term that refers to a specific type of goods, their key characteristics in contrast to public goods, are:

  • Rivalrous consumption - consumption of the good by one consumer reduces the amount available to other consumers
  • Excludable consumption - in terms of costs, it is reasonably possible to exclude any consumer from consumption

Private goods in practice: Differentiation on public and private goods is used to determine whether the type of goods can be effectively provided by the private sector, or whether public sector is preferable provider.

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Last update: 17.02.2016

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