Indicate Whether This Informal Definition Is by Example, by Synonym

question 13

Essay

Indicate whether this informal definition is by example, by synonym, or analytical: A professional bureaucrat is anyone like our present governor.

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Definitions:

Public Goods

Goods that are non-excludable and non-rivalrous, meaning they can be enjoyed by anyone and one person's consumption does not reduce another's.

Excludable

An excludable good is one from which individuals can be prevented from using if they do not pay for it.

Rival In Consumption

A characteristic of a good or service that means its consumption by one individual prevents simultaneous consumption by another individual.

Private Good

A product or service that is consumed by one individual without providing benefit to others and is subject to exclusion and rivalry.