Examlex
Who first hypothesized that the eye must have three different types of color receptors,with each especially sensitive to one of the three primary colors?
Nonexcludable
A nonexcludable good is one where it is not possible to prevent people who have not paid for it from having access to it, typical in public goods.
Marginal Social Benefit
The additional benefit received by society as a whole from consuming one more unit of a good or service.
Public Good
A good or service offered to every member of a community free of charge, supplied either by the government or a non-profit private entity.
Excludable
A characteristic of a good or service that allows owners or producers to prevent its use by people who have not paid for it.
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