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  2. Free good - Wikipedia

    en.wikipedia.org/wiki/Free_good

    A good that is made available at zero price is not necessarily a free good. For example, a shop might give away its stock in its promotion, but producing these goods would still have required the use of scarce resources. Examples of free goods are ideas and works that are reproducible at zero cost, or almost zero cost.

  3. Public good - Wikipedia

    en.wikipedia.org/wiki/Public_good

    Public goods give such a person an incentive to be a free rider. For example, consider national defence, a standard example of a pure public good. Suppose Homo economicus thinks about exerting some extra effort to defend the nation. The benefits to the individual of this effort would be very low, since the benefits would be distributed among ...

  4. Common good (economics) - Wikipedia

    en.wikipedia.org/wiki/Common_good_(economics)

    Wild fish are an example of common goods. They are non-excludable, as it is impossible to prevent people from catching fish. They are, however, rivalrous, as the same fish cannot be caught more than once. Common goods (also called common-pool resources [1]) are defined in economics as goods that are rivalrous and non-excludable. Thus, they ...

  5. A Guide to Free Market Economies - AOL

    www.aol.com/news/guide-free-market-economies...

    Sometimes a free market economy is defined as one in which the government has little, if any, control over the marketplace. Under this definition a market with any significant amount of government ...

  6. Free market - Wikipedia

    en.wikipedia.org/wiki/Free_market

    Proponents of the free market as a normative ideal contrast it with a regulated market, in which a government intervenes in supply and demand by means of various methods such as taxes or regulations. In an idealized free market economy, prices for goods and services are set solely by the bids and offers of the participants.

  7. Free trade - Wikipedia

    en.wikipedia.org/wiki/Free_trade

    Some opponents of NAFTA see the agreement as materially harming the common people, but some of the arguments are actually against the particulars of government-managed trade, rather than against free trade per se. For example, it is argued that it would be wrong to let subsidized corn from the United States into Mexico freely under NAFTA at ...

  8. Goods - Wikipedia

    en.wikipedia.org/wiki/Goods

    Examples in addition to the ones in the matrix are national parks, or firework displays. It is generally accepted by mainstream economists that the market mechanism will under-provide public goods, so these goods have to be produced by other means, including government provision. Public goods can also suffer from the Free-Rider problem.

  9. Glossary of economics - Wikipedia

    en.wikipedia.org/wiki/Glossary_of_economics

    Also called resource cost advantage. The ability of a party (whether an individual, firm, or country) to produce a greater quantity of a good, product, or service than competitors using the same amount of resources. absorption The total demand for all final marketed goods and services by all economic agents resident in an economy, regardless of the origin of the goods and services themselves ...