Examlex
Consider the photo of Margaret Thatcher found in this chapter.What did she accomplish as Prime Minister of Great Britain? What brought about her resignation?
Public Good
A commodity or service that is provided without profit to all members of a society, either by the government or a private individual or organization.
Free-Rider Problem
The inability of potential providers of an economically desirable good or service to obtain payment from those who benefit, because of nonexcludability.
Highly Profitable
Describing a business or activity that generates a significantly higher amount of earnings compared to its costs.
Private Firm
A business owned by private individuals or entities, not traded publicly and not owned by the government.
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