Examlex
Mieka was in a major car accident and,as a result,cannot live without being hooked up to a respirator.After several months of living in a coma attached to this machine,Mieka's parents decided to have the respirator turned off and Mieka died two days later.This is an example of:
Private Good
A type of good that is both excludable and rival in consumption, meaning its use is limited to paying customers and one person's use diminishes another person's ability to use it.
Automobile
A wheeled motor vehicle used for transportation, typically powered by an internal combustion engine or electric motor.
Private Good
A type of good that is characterized by excludability and rivalry, meaning it can be consumed by only one person at a time.
Excludable
A characteristic of a good or service that allows owners or producers to prevent others from using it without paying for it.
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