Examlex
Which of the following statements is FALSE?
Private Firms
Businesses that are privately owned, not traded publicly on stock exchanges, and typically managed by the owner or shareholders.
Public Good
Without profit motive, a product or service is made available to all societal members, courtesy of either governmental or private benefactors.
Nonrivalry
A characteristic of a good or service whereby its consumption by one individual does not reduce its availability for consumption by others.
Nonexcludability
The inability to keep nonpayers (free riders) from obtaining benefits from a certain good; a characteristic of a public good.
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