Examlex
What is cloud computing and how is it useful?
Public Good
A product or service that is non-excludable and non-rivalrous, meaning it can be used by many people simultaneously without reducing its availability to others.
Tiebout Hypothesis
A theory suggesting that people will migrate to local jurisdictions that best satisfy their preferences for public goods and services, reflecting a form of market efficiency in local government.
Public Good
A good that is non-excludable and non-rivalrous, meaning it can be used by many people simultaneously without depletion.
Free-rider Problem
A situation in which some individuals consume more than their fair share of a public resource, or shoulder less of the cost of its production, benefiting from goods or services without paying for them.
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