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Healthcare Price Controls Will Lead to

question 48

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Healthcare price controls will lead to


Definitions:

Excludable

A feature of a product or service enabling the proprietor to prohibit its use by others without authorization.

Public Goods

Goods that are non-excludable and non-rivalrous, meaning they are available for everyone to use without reducing availability to others, such as public parks or national defense.

Common Resources

Resources that are non-excludable but rivalrous, meaning they are available to everyone, but one person's use diminishes another's ability to use it.

Nonrival in Consumption

A characteristic of some goods where one person's consumption does not reduce the availability of the good for consumption by others.

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