The Online Encyclopedia Known as Wikipedia Is an Example of a Public

question 3

Essay

The online encyclopedia known as Wikipedia is an example of a public good that provides information. Explain why this good did not need to be provided by the government.

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Definitions:

Credit Sales

Transactions where goods or services are provided to a customer with the agreement that payment will be made at a future date.

Non-Growth Firm

A business that does not expect to increase its revenue or expand its market share significantly over time.

Cash Positions

The amount of cash or cash-equivalents that a company or individual has available at any given time.

Aversion To Risk

Risk aversion is the preference to avoid uncertainty.