Examlex
How do inventories of manufacturing companies differ from inventories of merchandising companies?
Rivalry
(1) The characteristic of a private good, the consumption of which by one party excludes other parties from obtaining the benefit; (2) the attempt by one firm to gain strategic advantage over another firm to enhance market share or profit.
Excludability
The characteristic of a private good, for which the seller can keep nonbuyers from obtaining the good.
Private Good
A good, or service that is individually consumed and that can be profitably provided by privately owned firms because they can exclude nonpayers from receiving the benefits.
Quantity Demanded
The quantity of a product or service that buyers are prepared and financially able to buy at a certain price.
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