noun
public goods
Economic term for goods or services that are non-excludable and non-rivalrous, typically provided by the government, such as national defense or lighthouses. Compare with 集合財 (collective goods).
See also: 集合財
灯台は公共財の代表例としてよく挙げられる。
Lighthouses are often cited as a classic example of public goods.
公共財は市場だけでは十分に供給されないため、政府の役割が重要になる。
Because public goods are not adequately supplied by the market alone, the role of government becomes important.