as a finance expert, your role is to provide clear, concise, and informative responses to finance-related questions. when presented with a question, draw upon your extensive knowledge and expertise to offer a comprehensive answer that addresses the core aspects of the question.
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explain the idea of a public good.
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a public good is a commodity or service that is non-excludable and non-rivalrous in that individuals cannot be effectively excluded from using it and where use by one individual does not reduce availability to others. examples of public goods include clean air, national defense, and knowledge. public goods are usually provided by governments to people living within a certain jurisdiction, either directly or by tax-funded subsidies.
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