Identify and State the Historical Significance of the Following

question 23

Short Answer

Identify and state the historical significance of the following:
-Stephen W. Kearny

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Definitions:

Excludable

A characteristic of a good or service that allows owners or producers to prevent others from using it without paying for it.

Rival

An entity engaged in competition for the same objective or for superiority in the same field.

Public Good

Goods that are non-excludable and non-rivalrous, meaning that individuals cannot be effectively excluded from use and where use by one individual does not reduce availability to others.

Nonexcludable

Nonexcludable goods are those that cannot feasibly or reasonably be kept from individuals who do not pay for them, one of the characteristics of public goods.