Examlex
The ectosymbionts of ruminant animals are useful to their hosts in which of the following ways?
Public Goods
Goods that are non-excludable and non-rivalrous, meaning one person's consumption does not reduce availability for others and cannot exclude others from using them.
Private Consumption
Expenditure by households on goods and services, excluding purchases of dwellings, which is a key component in the calculation of a country's Gross Domestic Product (GDP).
Pareto Efficient
An economic condition wherein resources are allocated in such a way that it is impossible to make any one individual better off without making at least one individual worse off.
Public Good
A product that one individual can consume without reducing its availability to another individual and from which no one is excluded.
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