Tuesday, 25 July 2017

Are Private goods for new babies in family?

Are Private goods for new babies in family?
A private good is a product that must be purchased to be consumed, and its consumption by one individual prevents another individual from consuming it. Economists refer to private goods as rivalrous and excludable. A good is considered to be a private good if there is competition between individuals to obtain the good and if consuming the good prevents someone else from consuming it.


A family’s income position can define whether they can buy more private foods or not. If they can afford more private goods they should take more babies. 

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Thanks a lot
Regards,
morsalina

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