![]() ![]() So let's go to this example of a fireworks show. ![]() Right? So they're looking for that free ride? They're not going to put in any effort, but they want to get that high grade. And I know that even if I don't do anything, they're gonna do all the work. Right? Every time you have a group project, guess who ends up doing all the work, Right? Probably you and they're all just free riding, they're like, hey, that person does really good work. And I'm sure you guys have all been dealing with free riders throughout your college career. Right? So a free rider is a person who receives the benefit of a good, without paying for it. So, we're gonna talk about free riders and the problem, the free rider problem. If we just leave it up to the private market to supply these goods, it's not gonna happen, right? They're going to be under supplied and we're going to see an example why. And we're gonna see that in a private market, public goods are going to be under supplied. So, first, public goods suffer from the free rider problem. Alright, so public goods, if you remember, these were the ones that were non rival and non excludable, and we're gonna see on this page, we're gonna be talking about non excludable goods right here, we're talking about public goods below, we're gonna talk about common resources, both of are non excludable, and that's where the problems come in. So, first, let's talk about the problems with public goods, public goods are gonna are gonna suffer from what we call the free rider problem. ![]() So, like I said, common resources and public goods are gonna need help, Right? They don't work just by themselves. ![]()
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