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Details
Title: Chapter 11
Description: Public Goods and Common Resources
Total Flash Cards: 9
Created: 10/18/2011 07:25:02
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Additional Economics Flashcards
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Cards in this set:
Term
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Definition
The property of a good whereby a person can be prevented from using it.
Prevented from being bought or borrowed. |
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Definition
The property of a good whereby one person's use diminsihes other people's use.
If I have it, you'll have less. |
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Definition
| Goods that are both exludable and rival |
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Definition
| Goods that are neither excludable nor rival. |
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Definition
| Goods thare are rival but non-excludable |
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Definition
| Goods that are excludable but non-rival |
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Definition
| A person who receives the benefit of a good but avoids paying for it. |
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A study that compares the costs and benefits to society of providing a public good.
How much will it cost?
What are the benefits? |
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