Examlex
Structured notes are issued by firms to borrow funds, and the repayment of interest and principal is based on specified market conditions.
Common Resource
A resource that is nonexcludable but rival in consumption.
Nonexcludable
A characteristic of a good or service that prevents people from being excluded from using it, often leading to challenges in private market provision.
Rival In Consumption
Goods or services that cannot be enjoyed by more than one person at the same time, as the consumption by one prevents that by another.
Common Resource
A resource like air or water that is not owned by anyone, but available for use by everyone, often leading to overuse and depletion.
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