See: Public Good.
Throw your ideas of privacy out your window. But not your clothes. You can keep those on.
Private goods are goods that are bought and consumed, and when they’re consumed, it prevents someone else from consuming it. When you buy popcorn and Sour Patch Kids at the movies, these are private goods. You’re buying them, and you consume them, which prevents others from consuming them. Sharing with your friend still makes it a private good, since the good is “excludable.”
What’s a good that’s non-excludable? A fireworks show. Some people pay to see the fireworks show, and get let into the little gated area with the best seating. Yet others can stand in the right places outside of the paid, gated area, and still “consume” the good, for free. Yep, free riders. Where there are free riders there are non-excludable goods.
Those who did pay aren’t having a lesser fireworks show because of the free riders. That means it’s also non-rivalrous, since many people can enjoy a fireworks show.
Some rando at the movies couldn’t consume your popcorn without directly taking it from you though, unlike the fireworks show. Popcorn is a rivalrous good; only one person can have each piece of popcorn.
When there are limits to who can consume something, it’s rivalrous. When others are excluded from consumption because you bought it, it’s excludable. Excludable and rivalrous = private good. Clothes, parking spaces, and food are all private goods: you have to buy them, and only so many people get use out of them at a time.
Private goods contrast with public goods, which are non-excludable (free), and non-rivalrous (consuming by one doesn’t lessen consumption by another). Like public parks.
Related or Semi-related Video
Econ: What are Intermediate Goods?5 Views
And finance Allah Shmoop What are intermediate goods Oh not
good as in the moral sense Like good versus evil
An intermediate good isn't something that's not that great but
not that bad Like you know giving a homeless person
a nickel No we're talking about goods like goods and
services like something you make a product So what about
the intermediate part of this term Well like it sounds
you know intermediate like in between Enter the medium or
something like that but not in terms of size Not
like small good A single ice cream Sprinkle large good
U S Nimitz Intermediate Good mini Cooper No that's not
quite with term Intermediate good means either An intermediate good
is a product that is manufactured but is usually not
sold directly to consumers Instead intermediate goods air used as
a part of another product one that is larger or
more intricate Think car parts like fuel lines and spark
plugs And you know that kind of stuff Well sometimes
these gets sold to regular consumers at auto parts stores
but usually they're bought by car manufacturers and become building
blocks for a larger product like what's it called Oh
Yeah a car Well construction materials are another example here
Intermediate goods two by fours nails Whatever it is that
goes into spackle you don't just buy a nail on
display it on your coffee table As you know an
art item Okay maybe you do but normal people don't
When you buy a nail it's a means to an
end You're building something else and you need a nail
toe Hold it together It's not the final good It's
intermediate A lot of food products fall into this category
as well Think about sugar Now Sometimes you might sit
in front of the TV with a bag of sugar
on your lap spooning heaps of it into your gaping
maw Well usually it's used as an ingredient to make
cookies You know which you'll then shovel into your ma
while watching TV After a bad break up you might
use a lot of sugar to make the stacks and
stacks of cookies you eat on a daily basis but
your consumption pales in comparison to a big time manufacturer
You know chews up a lot of sugar in their
products So let's take Hypo Industrial Confectionery treats global It
by sugar by the ton and turns it into millions
of packages of sweet obesity cookies which it chips to
grocery stores for good little boys and girls all around
the world with sugar itself was manufactured transformed from sugar
cane at a factory in Colombia somewhere into the white
crystal Lee stuff that you recognised Well sometimes that just
gets bagged and sent to the store where you as
the consumer can buy it If that happens it gets
counted as a final good But more of it get
shipped off to Hypo Industrial Confectionery Global where it becomes
an ingredient and intermediate in sweet obesity cookies with sugar
Here is the intermediate good the cookies or the final 00:02:49.793 --> [endTime] good and we mean yeah good Tasty
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