Learn › Economics glossary › The economic problem

Economics glossary · The economic problem

Free good

What free good means in economics, as one of economic goods and free goods, with an example and a question to test yourself.

Definition
Free good
A free good is one that is not scarce, because there is enough to meet every want at a zero price, so using more of it has no opportunity cost.
Example

Can you think of an example of free good?

Test yourself

Can you name the two kinds of good, one scarce and one not?

Learn it properly: the module

Related terms