Term
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Definition
| the property of a good whereby a person can be prevented from using it |
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Term
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Definition
| the property of a good whereby one person's use diminishes other people's use |
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Term
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Definition
| goods that are both excludable and rival in consumption |
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Term
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Definition
| good that are neither excludable nor rival in consumption |
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Term
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Definition
| goods that are not excludable but rival in consumption |
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Term
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Definition
| good that are excludable but not rival in consumption |
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Term
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Definition
| a person who receives the benefit of a good but avoids paying for it |
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Term
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Definition
| a study that compares the costs and benefits to society of providing a public good |
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Term
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Definition
| a parable that illustrates why common resources are used more than is desirable from the standpoint of a society as a whole |
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