Compose a 250 words essay on Comments to Peer Response DQ1MD and DQ2 JB. Needs to be plagiarism free!
The buyer and the seller have to make negotiations to a point where they mutually benefit from the transaction. This may compromise the expectations of the two parties. Greater negotiations by consumers boost competitive pressures leading to improved value for money. This is reflected in the lower costs and higher service value (Benassy, 2005).
These are goods or services that can be used by numerous individuals concurrently without diminishing the value of consumption to any one of the individuals. This argument supports that it is difficult to elicit people’s preferences for public goods. This key feature of public goods, that several individuals can use the same good without reducing its value, is expressed as non-rivalry (Batina & Ihori, 2005). Non-rivalry is what differentiates public goods from private goods. Public good also has the features of non-excludability that is a person cannot be stopped from using the commodities regardless if the person makes payment. .Economists refer to public goods as .non-rivals and not excludable. These goods may include national security, drain systems, public recreational areas and crucial television and radio transmits (Centre & Touffut,