Examlex
How is a fat distinguished from an oil, (a) based on a physical property difference and (b) based on a difference in molecular structure?
Drop-in-the-bucket Problem
A metaphorical expression indicating a situation where the effort or resources are too insignificant to make a noticeable difference in a larger context.
Public Goods
Goods that are non-excludable and non-rivalrous, meaning they can be consumed by everyone and one person's use doesn't reduce availability to others.
Common Resource
A resource like air or water that offers users tangible benefits but is difficult to exclude non-payers from using, often leading to overuse.
Common Resource
A type of good that is non-excludable and rivalrous, such as air or a fishing area, leading to potential overuse or depletion.
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