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On the other hand, if the bus is utilized as part of the public transportation system, it becomes a public good because it now is available to anyone who desires to use it.
Different Meanings of Public Good
Now the term "public good" can mean, in an economic sense, a physical object such as a street sign or road, but it can also be used as an expression to mean "an application of a collective ethical notion of ?the good' in decision-making" ("Public Good", 2005, n...
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For example, having a speed limit may not be a physical object, but it is a "public good" in the sense that it is good for the safety of the general public. While mechanical engineers primarily design and create private goods, many of these private goods can also be considered public goods both in a physical and conceptual context...
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