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Reference.org
Common good (economics)
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<p>Common goods (also called common-pool resources) are defined in <a href="/facts/Economics/HYctA2Dn">economics</a> as <a href="/facts/Good_(economics_and_accounting)/AtK6gQh2">goods</a> that are <a href="/facts/Rivalrous/SKzqLqny">rivalrous</a> and <a href="/facts/Non-excludable/faXyD4IS">non-excludable</a>. Thus, they constitute one of the four main types based on the criteria: </p> <ul><li>whether the consumption of a good by one person precludes its consumption by another person (<a href="/facts/Rivalry_(economics)/SKzqLqny">rivalrousness</a>)</li> <li>whether it is possible to prevent people (consumers) who have not paid for it from having access to it (<a href="/facts/Excludability/faXyD4IS">excludability</a>)</li></ul> <p>As common goods are accessible by everybody, they are at risk of being subject to <a href="/facts/Overexploitation/35n60afL">overexploitation</a> which leads to diminished availability if people act to serve their own self-interests. </p>