What Are the Names of Two Ordinal Measures of Association

question 23

Short Answer

What are the names of two ordinal measures of association?

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Definitions:

Nonrival-in-consumption

A characteristic of goods where one person's consumption does not diminish the ability of others to use the same good.

Nonexcludable

A characteristic of a good or service that prevents the owner from effectively denying access to it to non-paying individuals or entities.

Nonrivalry

A characteristic of a good or service where its consumption by one individual does not reduce its availability to others.

Public Good

A good or service offered free of charge to every member of a society by either the government or a private entity or organization, aiming not for profit.