Private good Guide, Meaning , Facts, Information and Description

In economics Private good is an opposite of the public good.

Its main features are:

• excludability (also refered in this context as rivalry) - cannot be consumed by everybody since consumption by one person reduces or excludes consumption by another
• depletability (it is finite)

Private goods are almost exclusively made for profit.

An example of the private good is bread: there is a finite amount of it, and bread eaten by a given person cannot be consumed by another.

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