Examlex
What are the benefits and problems of piece rate systems?
Public Goods
Goods that are non-excludable and non-rivalrous, meaning they are available for everyone to use without reducing availability to others, such as public parks or national defense.
Common Resources
Resources that are non-excludable but rivalrous, meaning they are available to everyone, but one person's use diminishes another's ability to use it.
Nonrival in Consumption
A characteristic of some goods where one person's consumption does not reduce the availability of the good for consumption by others.
Nonexcludable
A characteristic of a good or service where it is not possible to prevent people who have not paid for it from having access to it.
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