Examlex
What is an advantage of integral seats?
Public Good
A product or service that is made available to all members of society, characterized by non-excludability and non-rivalry in consumption.
Free-Rider Problem
A situation where some individuals consume more than their fair share of a public resource, or do not pay for their share, leading to underproduction or depletion of the resource.
Drop-In-The-Bucket Problem
A problem intrinsic to public goods: The good or service is usually so costly that its provision generally does not depend on whether any single person pays.
Public Goods
Goods or services that are non-excludable and non-rivalrous, meaning they are freely available to all and used by one person does not reduce availability to others.
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