public good

public good definition - business

public good

A good for which it is difficult to exclude anyone from benefiting and for which additional consumers can be added without diminishing the enjoyment of anyone else. National defense and police protection are public goods most efficiently supplied by government. Also called collective good.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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