Principles of Economics: Microeconomics - A Deeper Look at Public Goods

Description: What do we mean by “nonexcludable” and “nonrival” when talking about public goods? Public goods challenge markets because it’s difficult to charge non-payers and it’s inefficient to exclude anyone — so, how do we produce them? Public goods provide an argument for taxation and government provision. But how do we know which public goods should be provided? In this video we cover the free-rider problem and the forced-rider problem in regards to public goods. We also discuss examples of the four different categories of goods, which will be covered in future videos: private goods, commons resources, club goods, and public goods. Microeconomics Course: http://bit.ly/20VablY Next video: http://bit.ly/1oBbqKT Help us caption & translate this video! http://amara.org/v/Gkp3/ Help us caption & translate this video! http://amara.org/v/ITvU/