Examlex
In general,individuals sentenced to prison accurately represent the "true" criminal population.
Imperfect Information
A situation where buyers, sellers, or both lack the necessary information to make informed decisions about the market.
Private Goods
Goods that are excludable and rivalrous, meaning their consumption by one individual prevents another from consuming them.
Public Goods
Goods that are non-excludable and non-rivalrous, meaning they can be used by everyone and one person's use does not diminish another's.
Government
The organized assembly or body of individuals leading a structured society, typically a nation.
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