Instructions: Identify the Following Term(s)

question 33

Short Answer

Instructions: Identify the following term(s).
-Sui

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Definitions:

Public Good

A provision of goods or services to everyone in society for free, by either governmental bodies or private entities, with no profit motive.

Private Goods

Goods that are excludable and rivalrous in consumption, meaning their use by one person diminishes availability for others and access can be restricted.

Rival Consumption

A situation in which one person's consumption of a good or service diminishes others' ability to consume the same good or service.

Excludable

A characteristic of a good or service that allows its owner to prevent others from using it without permission.