Examlex
The terms of the ________ must be defined and reasonably certain.
Nonexcludable
A characteristic of a good where it is not possible to prevent individuals from accessing or consuming the good.
Nonrival Consumption
A situation where one individual's consumption of a good does not reduce the amount available for consumption by others.
Private Goods
Goods that are excludable and rivalrous in consumption, meaning they can only be used by one person at a time.
Rival Consumption
A situation where the consumption of a good or service by one person reduces its availability for consumption by another person.
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