private good
[ˈpraɪvət ɡʊd]
nounpl: private goods
bem privado
1. A good or service that is owned and controlled by individuals or private entities, characterized by excludability (only paying consumers can access it) and rivalry (consumption by one person reduces availability for others)
A car is a private good because only the owner can use it, and when one person drives it, others cannot.
Um carro é um bem privado porque apenas o proprietário pode usá-lo, e quando uma pessoa o dirige, outras não podem.
2. In economics, a commodity whose consumption is limited to the buyer and whose benefits cannot be easily shared or extended to non-paying individuals
Food and clothing are examples of private goods since their consumption is exclusive to the buyer.
Alimentos e roupas são exemplos de bens privados, pois seu consumo é exclusivo do comprador.
The concept of 'private good' is fundamental to Western capitalist economies, particularly in the United States and Brazil. It underpins the market system where individuals own and trade goods. In Brazil, understanding the distinction between private and public goods is increasingly important in policy discussions and economics education, reflecting the country's mixed economic model where both private enterprise and public services coexist.
Related Idioms & Phrases
the private good is only for those who can afford it
as a private good, it remains exclusive to its owner
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