Examlex
Which protocol standard used for wired LAN connections specifies hardware characteristics,such as which wires carry which signals?
Public Goods
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
A characteristic of a public good where no one can be prevented from using it.
Nonrival
A characteristic of a good or service whereby one person's consumption does not diminish the utility or availability for others.
Free-Rider Problem
A situation where individuals consume a public good without contributing to its cost, potentially leading to underproduction or depletion of that good.
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