Summary
Full Transcript
In this video we discuss club goods. Club goods are nonrival and excludable. For instance, HBO is a club good, as you need to pay a monthly fee to access HBO (excludable) but more viewers does not add to costs (nonrival). Entrepreneurs are always looking for ways to turn public goods into club goods — cable TV and satellite radio being two examples. Some entrepreneurs have even figured out how to profit from providing public goods — for instance, radio and broadcast television are public goods, but, thanks to advertising, they are profitable. Microeconomics Course: http://bit.ly/20VablY Next video: http://bit.ly/1S1t0Un Help us caption & translate this video! http://amara.org/v/Gkpt/ Help us caption & translate this video! http://amara.org/v/IUHb/
Continue this lesson in the app
Install CourseHive on Android or iOS to keep learning while you move.
