Economic Lowdown Podcast episode 17 [9:57] defines the characteristics of private and public goods and explains why these characteristics help determine whether government or the private sector is best positioned to produce each.

Discusses how public resources can be abused. [6:38]

In this video [10:13] learn the difference between rivalry and excludability, and how these characteristics determine whether a good is a private good, public good, artificially scarce good, or common resource.

The tragedy of the commons occurs when goods are rival but not excludable. In this video, we explore the intuition, and consequences, behind such goods.