The five economic products that are provided by the government as public goods are highways, schools, national defense, police, and fire protection.
What are public goods?
Public goods are the goods that are provided by the government to its citizens for their welfare. These products are provided either free of cost or at a minimal cost in order to make them affordable for every level of society. The main purpose of public goods is to promote welfare among the people, unlike private goods, which are manufactured for profit making. Public goods include basic products that are essential in nature to sustain life.
The five major economic products that are provided by the government as public goods are highways, schools, national defense, police, and fire protection.
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