Examlex
I walk six miles in a straight line in a direction north of east,and I end up two miles east and several miles north.How many degrees north of east have I walked?
Public Goods
Goods that are non-excludable and non-rivalrous, meaning that individuals cannot be effectively excluded from use and where use by one individual does not reduce availability to others.
Private Consumption
The total spending by households and individuals on goods and services for personal use, excluding government spending.
Pareto Optimal
A circumstance in resource distribution where an improvement for one individual correlates with a setback for another.
Public Goods
Goods that are non-excludable and non-rivalrous, meaning their consumption by one individual does not reduce availability to others.
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