Common good (economics)
Wild fish are an example of common goods. They are non-excludable, as it is impossible to prevent people from catching fish. They are, however, rivalrous, as the same fish cannot be caught more than once.
In Economics common goods are a kind of good. Common goods have two properties:
- It is not possible to prevent people from using them (called excludability)
- A person making use of the good will reduce its amount.
An example for a common good is wild fish.