Examlex
Computer simulations of the formation of the solar system show that the material in the vicinity of the asteroid belt is not NOT in the form of one large planet because:
Public Goods
Goods which are both non-excludable and non-rivalrous, meaning they can be used simultaneously by more than one person and individuals cannot be effectively excluded from using them.
Market Failure
A situation in which the allocation of goods and services by a free market is not efficient, often leading to a net social welfare loss.
Nonexcludable
A characteristic of a good or service that prevents individuals who have not paid for it from being easily excluded from its use or benefit.
Nonrival
A characteristic of a good or service where one person's use does not diminish its availability to others.
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