Title: Public Goods (Audio Q&A)
Course: Alabama Economics Sample Syllabus > Section: Unit 4: Government's Role in Markets

Procedure: Is public transportation a public good? How about national defense? Knowing the characteristics of public goods will help you understand why private firms excel at producing private goods, but they have little incentive to produce public goods. Rather, if society wants public goods, government must produce them. This episode of The Economic Lowdown defines the characteristics of private and public goods and explains why these characteristics help determine who is best positioned to produce each.

Estimated Completion Time: 15 minutes