Examlex
Discrimination is defined as ________.
Free-rider Problem
A situation in which individuals benefit from resources, goods, or services without paying for them, leading to underprovision of those goods or services.
Public Goods
Goods that are non-excludable and non-rivalrous, meaning that anyone can consume them without diminishing their availability to others, such as public parks and clean air.
Competitive Markets
Markets characterized by a large number of sellers and buyers, which helps ensure fair prices and efficient distribution of goods and services.
Nonexcludable
A characteristic of a good or service that prevents the owner from effectively excluding others from using it, often leading to free-rider problems.
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