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public good| In economics, a service, resource, or facility, such as street lighting, that is equally accessible to everyone for unlimited use. |
| Because of these characteristics, the private sector is reluctant to provide public goods. Consumers are likely to want to be free riders, hoping that they can benefit from the good without having to pay for it. Public goods are therefore normally provided by government and paid for by everyone through the taxation system. Common examples of public goods include national defence, the judiciary, and the police. |
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