Examlex
Simplify the following expression:
Public Good
This refers to goods or services distributed to all societal members at no cost, courtesy of either public institutions or nonprofit private entities.
Private Sector
Part of the economy that is run by individuals and companies for profit and is not under direct state control.
Entrepreneurs
Individuals who initiate, manage, and assume the risks of starting and operating a business with the aim of making a profit.
Third Party
An entity involved in a transaction besides the two main parties; in insurance, the person other than the policyholder and the insurer who may be affected by or have a claim against the policy.
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