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In economics, a free good is a good that is not scarce, and therefore is available without limit. [1] [2] [3] A free good is available in as great a quantity as desired with zero opportunity cost to society. A good that is made available at zero price is not necessarily a free good.
In mathematics, the idea of a free object is one of the basic concepts of abstract algebra.Informally, a free object over a set A can be thought of as being a "generic" algebraic structure over A: the only equations that hold between elements of the free object are those that follow from the defining axioms of the algebraic structure.
The precise definition of "class" depends on foundational context. In work on Zermelo–Fraenkel set theory, the notion of class is informal, whereas other set theories, such as von Neumann–Bernays–Gödel set theory, axiomatize the notion of "proper class", e.g., as entities that are not members of another entity.
Although common goods are tangible, certain classes of goods, such as information, only take intangible forms. For example, among other goods an apple is a tangible object, while news belongs to an intangible class of goods and can be perceived only by means of an instrument such as printers or television .
In mathematics, a characteristic class is a way of associating to each principal bundle of X a cohomology class of X. The cohomology class measures the extent to which the bundle is "twisted" and whether it possesses sections .
Microeconomics analyzes the market mechanisms that enable buyers and sellers to establish relative prices among goods and services. Shown is a marketplace in Delhi. Shown is a marketplace in Delhi. Microeconomics is a branch of economics that studies the behavior of individuals and firms in making decisions regarding the allocation of scarce ...
In mathematics, a characterization of an object is a set of conditions that, while possibly different from the definition of the object, is logically equivalent to it. [1] To say that "Property P characterizes object X" is to say that not only does X have property P, but that X is the only thing that has property P (i.e., P is a defining ...
In mathematics, a structure on a set (or on some sets) refers to providing it (or them) with certain additional features (e.g. an operation, relation, metric, or topology). Τhe additional features are attached or related to the set (or to the sets), so as to provide it (or them) with some additional meaning or significance.