Explain Any Three Guidelines Required to Effectively Employ Interpretation and Additive

question 9

Essay

Explain any three guidelines required to effectively employ interpretation and additive empathy.​

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Definitions:

Private Good

A good or service that is individually consumed and that can be profitably provided by privately owned firms because they can exclude nonpayers from receiving the benefits.

Nonpayers

Individuals who benefit from goods or services without directly contributing to the cost, often associated with public goods.

Nonexcludability

is a characteristic of public goods where it is impossible to prevent individuals from enjoying the benefits of a good or service, regardless of whether they have paid for it.

Free-riding

The act of benefiting from the efforts, costs, or contributions of others without making a fair contribution oneself, often seen in public goods scenarios.