What is one characteristic of a public good?

A public good is defined by two main characteristics: non-excludability and non-rivalry. When we say that a public good is accessible to all without rivalry, we mean that one person’s use of the good does not diminish the availability of that good for others. For example, national defense or a public park can be enjoyed by many individuals at the same time without one person's enjoyment detracting from another's experience.

This characteristic distinguishes public goods from private goods, where consumption by one individual can reduce the amount available for others. It is important to understand that characteristics like having no associated costs for consumers are not defining traits of public goods, as public goods often require funding through taxation or other means to maintain them. Similarly, the idea that public goods are provided by private entities is misleading, since they are typically funded and maintained by the government for the benefit of the populace.