Difference between a public and a private good

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In a market economy there are two types of goods being produced: public and private goods. After reading the assigned chapters, what is the difference between a public and a private good?

Give five examples of public and private goods and why are they considered as such? In addition, the private sector would not produce public goods, what are the main reasons why they would not?

Write your initial response in four paragraphs

Reference no: EM13755773

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