Updated: Aug 20, 2021

An institution formed to supply an excludable public good. The defining feature of a club is that it can exclude non-members from the use of its facilities. Exclusion permits a price to be charged for membership which allows efficient provision of the public good by the club to its members. The concept of a club has wide application, from the analysis of sports clubs to the study of international organizations such as NATO.

Reference: Oxford Press Dictonary of Economics, 5th edt.

Sources & references
Risk disclaimer
James Knight
Editor of Education
James is the Editor of Education for Invezz, where he covers topics from across the financial world, from the stock market, to cryptocurrency, to macroeconomic markets.... read more.