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Health Economics-DQ (1)
Q Please provide a commentary on the distinctions between public versus private goods. An effort should be made to apply these distinctions to the health sector.
The goods are being divided between public goods and private goods based on two characteristics, rivalry factor and excludable factor. A good is called a rival good, when it can be consumed only by one person at a time. In other words, in the case of rival goods, the use of one person has a significant impact on the use of other person (E. Daly, 2004). The excludable good are those, for which the users can be prevented to access the good if they don’t satisfy the certain criteria.
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