Examlex
A joint arrangement that is not structured as a separate entity is a(n) __________.
Public Goods
Goods that are non-excludable and non-rivalrous, meaning they can be consumed by everyone and one person's consumption does not diminish another's.
Efficiency Problem
An issue or circumstance that prevents an economic system or process from optimizing resource use to achieve the greatest output or utility.
Exclude
To eliminate or leave out from consideration or a group.
Public Good
A good that is non-excludable and non-rivalrous, meaning it can be used by everyone and one person's use does not reduce availability to others.
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