Examlex
Which of the following was the largest Spanish colony by the end of the eighteenth century?
Nonrival
A property of a good or service where its consumption by one individual does not reduce availability for others, often found in public goods.
Private Good
A good that is both excludable and rivalrous, meaning it can only be used by one person at a time, and access to it can be restricted.
Excludable
A characteristic of a good or service that allows owners or producers to prevent others from using it without permission or payment.
Rival
An entity competing against another in the same market, striving for a greater share of assets, customers, or recognition.
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