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You Tie a Short Length of String to a Small

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Essay

You tie a short length of string to a small ring and hold this ring at eye level, about a foot from your face. By focusing on the ring, you are able to make the ring swing back and forth. You are surprised by this automatic micromovement of your fingers. You most likely have experienced a(n)__________.


Definitions:

Nonexcludable

A characteristic of a good or service that prevents the owner from effectively denying access to it to non-paying individuals or entities.

Nonrivalry

A characteristic of a good or service where its consumption by one individual does not reduce its availability to others.

Public Good

A good or service offered free of charge to every member of a society by either the government or a private entity or organization, aiming not for profit.

Nonexcludability

Refers to a situation in a market where it's impossible to exclude individuals from using a good or service, often associated with public goods.

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