Examlex
Describe how Internet content filters are used.
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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