PUBLIC GOODS: Goods that are difficult to keep nonpayers from consuming (excludability), and use of the goods by one person doesn't prevent use by others (rival consumption). Examples include national defense, a clean environment, and any fourth of July fireworks display. Public goods are invariably provided by government because there's no way a private business can profitably produce them. Private businesses can't sell public goods in markets, because they can't charge a price and keep nonpaying people away. Moreover, businesses shouldn't charge a price, because there's no opportunity cost for extra consumers. For efficiency, government needs to pay for public goods through taxes.

     See also | good types | excludability | rival consumption | efficiency | market | exchange | market failure | common-property good | near-public good | private good | free-rider problem |

PUBLIC GOODS, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2024. [Accessed: April 18, 2024].

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Net exports by the foreign sector that do not depend on income or production (especially national income or gross domestic product). That is, changes in income do not generate changes in net exports. Autonomous net exports are best thought of as net exports that the foreign sector undertakes independent of income. They are measured by the intercept term of the net exports line. The alternative to autonomous net exports is induced net exports, which do depend on income.

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