Economics A-Level
Private good
What Private good means in Economics A-Level, as defined for AQA.
Definition of Private good
Check what you remember
Read the wording for your board, then hide it and explain Private good in your own words. Rough notes are fine. This is a self-check, with no mark or grade.
Reference: AQA
A good that is both excludable and rivalrous, so owners can exercise property rights and consumption depletes the good.
Topics that use Private good
- Public goods, private goods and quasi-public goods (AQA A-Level)
Related terms
- Capacity constraints
- Environmental market failures
- Excludability
- Free-rider problem
- Non-excludability
- Property rights
- Quasi-public good
- Quasi-public goods
Using Private good in the exam
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