Examlex
The GAP ratio:
Artificially Scarce
A situation where the supply of a good is limited by factors other than its physical scarcity, often due to regulatory or monopolistic practices.
Excludable
Referring to a good, describes the case in which the supplier can prevent those who do not pay from consuming the good.
Nonrival
A property of a good or service where its consumption by one individual does not reduce availability for others, often found in public goods.
Private Good
A good that is both excludable and rivalrous, meaning it can only be used by one person at a time, and access to it can be restricted.
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