Private good

In economics Private good is an opposite of the public good.

Related Topics:
Economics - Public good

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Its main features are:

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• excludability (also referred in this context as rivalry) - cannot be consumed by everybody since consumption by one person reduces or excludes consumption by another
• depletability (it is finite)

Private goods are almost exclusively made for profit.

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An example of the private good is bread: there is a finite amount of it, and bread eaten by a given person cannot be consumed by another.

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One of the most common way of looking at goods in economy, illustrated in the table below, is the classic division based on:

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• is there a competition involved in obtaining a given good
• whether it is possible to exclude a person from consumption of a given good