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What were the four social classes identified by Erik Wright?
Market Demand
The total quantity of a good or service that all consumers in a market are willing and able to purchase at various prices.
Individual Demand Curves
Graphical representations showing the relationship between the price of a good and the quantity demanded by an individual consumer, holding other factors constant.
Public Goods
Goods that are non-excludable and non-rivalrous, meaning they can be used by anyone and one person's use does not reduce its availability to others.
Free-Rider Problem
A situation where individuals consume a public good without contributing to its cost, benefiting from the good without paying for it.
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