Common good (economics)

Common good is something that everyone can use and benefit from. For example, a public park is a common good. Everyone can use the park and it benefits everyone who uses it. In economics, common goods are also something that everyone can use and benefit from. The difference is that common goods usually refer to things like services and resources (like clean air or fresh water) that have economic value. This means that they have a monetary value that can be used to improve the lives of people in the community. For example, a public library is a common good because it provides a valuable service to everyone in the community. The value of the library to the community is worth more than just the cost of the books and other materials inside.