If one person is able to consume them, it is not possible to stop another individual consuming them; they arenon-excludable. We cannot choose not to consume them; they arenon-rejectable. The universal access to public goods ensures that every citizen benefits from the foundational services that...
Explain the concept of Velocity of money. (a) Explain what is meant by nonrival and non-excludable. (b) How do these terms relate to the provision and financing of public goods? Explain the significance of resource pricing in terms of money...