yksityishyödyke

Yksityishyödyke refers to a type of economic good that possesses two key characteristics: excludability and rivalry. Excludability means that it is possible to prevent individuals who have not paid for the good from consuming it. Rivalry, on the other hand, signifies that one person's consumption of the good diminishes the amount available for others to consume. These attributes differentiate private goods from other categories like public goods, common resources, and club goods.

In essence, if you own a private good, you can control who uses it and how much of it is used. For example, a loaf of bread is a private good. The baker can prevent you from eating it if you don't buy it (excludability), and once you eat it, it's gone and cannot be eaten by anyone else (rivalry). Similarly, a car, a house, and a smartphone are all examples of private goods. The market mechanism is generally efficient in providing private goods because producers have an incentive to supply them, and consumers are willing to pay for them, leading to their optimal allocation.