Examlex
The problem of not knowing all aspects of the actions taken by an elected official refers to which of the following?
Private Good
A product that is excludable and rival in consumption, meaning its use is limited to the purchaser and it cannot be shared without diminishing availability to others.
Rivalry
Competition or contention between two or more parties for a goal that only one can attain.
Excludability
A characteristic of a good according to which it is possible to prevent people who have not paid for the good from consuming it.
Optimal Quantity
The quantity that maximizes a firm or individual's net benefit, often determined through cost-benefit analysis.
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