Effects_of_the_Economy

There are several characteristics to the various goods in the economy. Public goods are free of charge, non-excludable, they are beneficial and indivisibly spread among the entire community whether or not individuals desire to utilize these goods. Some examples may be military, emergency care (police, fire fighters), and libraries. The government try's to efficiently monitor the sale and distribution of public goods. Private goods are competitive, and generally made for profit, they are usually made by private firms, and they are efficiently distributed by these firms as well. If one person consumes this good, it is not available for the next person, which in return creates no cost to the next person. Some examples could be clothing, food, and automobiles. If there was no profit involved people would not produce these items, in return this would create dead markets, forcing a need for the government would have to step in to solve the problem. Natural monopilies usually come in the form of utilities (water, electric, natural gas), because it is not feasible to build more than one delivery system of pipes and line since they are expensive. To maintain prices and make sure they are not exploited, these monopilies are usually monitored by governments to set the standard. The companies are generally allowed a percentage over cost for profit. To avoid the high costs this can bring, some scenarios has the government owning the utility comapanies and they will bid out the service to the lowest contractor to drive down the cost to the consumer. If communities were allowed to vote on the controlling of these services then there would undoubtly be a much lower price and less corruption involved with natural monopilies. Common resources are usually free resources and are things we are all entitled to use, and generally come in the form of (fish, wildlife, oil, timber, and public roads). Some of these goods are managed by local governments and generally paid for by taxation. A major concern with these resources is over usage, by all or even by the local land owners that might damage or use these resources for their own personal gain ruining it for the rest of the population With the continuing growth of population within the world we are using more and more of the resources daily stretching their limits on the continuance of their reproduction for future use. These resources need to be monitored and used with caution to continue the growth of our future.