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Which of the following is a characteristic of both light waves and sound waves?
Artificially Scarce Goods
Products or services that have their availability limited through artificial means, such as through monopolies or government regulation, rather than through actual supply constraints.
Common Resources
Resources that are available to all members of a society but have limited availability, leading to potential overuse.
Free-rider Problem
The free-rider problem occurs when individuals consume a good without paying for it, under the assumption that others will cover the cost, typically in the context of public goods.
Nonpayers
Individuals who benefit from goods, services, or resources without contributing to their production or cost, often in the context of public goods.
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