Examlex
David habitually reaches for his cell phone, thinking that it is vibrating, even when it is not. David suffers from ________.
Nonexcludable
A characteristic of a good or service that prevents individuals from being effectively excluded from its use or benefits.
Free-rider Problem
A situation in which individuals consume more than their fair share or pay less than their fair share of the cost of a shared resource.
Public Good
A good that is non-excludable and non-rivalrous, meaning its consumption by one individual does not reduce its availability to others.
Common Resource
A resource like air or water that is not owned by anyone, but can be used by everyone, often leading to overuse and depletion.
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