Examlex
The Bayley Scales of Infant Development consist of 5 scales that measure mental and motor ability.
Free-Rider Problem
The inability of potential providers of an economically desirable good or service to obtain payment from those who benefit, because of nonexcludability.
Public Good
An item or service that is available for all individuals to consume, regardless of who pays for it, characterized by its non-excludability and non-rivalry.
Market Demand
The overall amount of a product or service that every consumer in a market is ready and capable of buying at different price levels.
Negative Externalities
Unintended and uncompensated costs imposed by one party's actions on others not involved in the transaction.
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