An Enduring Disposition to Respond Consistently to an Aspect of the World

question 47

Short Answer

An enduring disposition to respond consistently to an aspect of the world is called a(n)____________________.

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Definitions:

Excludable

A characteristic of a good or service that allows its owner to prevent others from using it without permission.

Nonexcludable

A characteristic of a good or service whereby individuals cannot be effectively excluded from using it, often resulting in public goods.

Public Good

A product or service that is made available to all members of society, characterized by non-excludability and non-rivalry in consumption.

Free-Rider Problem

A situation where some individuals consume more than their fair share of a public resource, or do not pay for their share, leading to underproduction or depletion of the resource.