LESSON 11 NOT-SO-PRIVATE GOODS AND SERVICES

11-1

HIGH SCHOOL ECONOMICS 3RD EDITION © COUNCIL FOR ECONOMIC EDUCATION, NEW YORK, NY

Finding the Efficient Quantity

$/unit

Number of Units

SupplyDemand

3020100

$6

$12

$18

LESSON 11 NOT-SO-PRIVATE GOODS AND SERVICES

11-2

HIGH SCHOOL ECONOMICS 3RD EDITION © COUNCIL FOR ECONOMIC EDUCATION, NEW YORK, NY

Characteristics of Goods

Rival• A unit of the good cannot be consumed

by more than one person at one time. Excludable• People who do not pay for the good can

be prevented from consuming it.