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Goods
N/A
9
Economics
12th Grade
09/14/2010

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Cards

Term
Private Goods
Definition
They rival consumption (once gone, it's gone); exclusive (not available for everyone)
Term
Public Goods
Definition
Non-rival in consumption; marginal cost is zero
Term
Quasi-Public Goods
Definition
Some goods are non-rival but exclusive
Term
Open Access Goods
Definition
Some goods are rival but non-exclusive
Term
Exclusive
Definition
Private and Quasi Public goods
Term
NON-Exclusive
Definition
Open access and public goods
Term
Rival
Definition
Private and open access goods
Term
NON-Rival
Definition
Quasi Public and Public goods
Term
Externalities
Definition
Unintended by products of production and consumption
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