Provision of public goods and services | Quizlet

free riding

enjoying the benefits of some good or action while letting others bear the costs

intangible goods

goods that we cannot reach out and touch; nonphysical products or assets that provide value, like digital goods (apps, music, software), intellectual property (patents, copyrights, trademarks), and brand value (goodwill, reputation)

an advocate (of soemething, e.g. the free market)

a person who publicly supports, recommends, or argues in favor of a particular idea, cause, policy, or way of doing things, acting as a proponent or champion for that belief

ardent (e.g. an ardent critic)

enthusiastic or passionate

incentives

a positive or negative environmental stimulus that motivates behaviour

to concede (that something is a good idea)

to admit or agree that something is true after first denying or resisting it

to make concessions

to allow or give up things in order to reach an agreement

an attribute (of)

a quality, characteristic, or feature of a person, thing, or concept

to diminish the value of something

to reduce the worth, importance, or quality of something

non-rivalry

a characteristic of public goods; one person's use of the good does not prevent someone else from using it

a cashless society

an economic system where physical money (coins and banknotes) is replaced by digital transactions, using methods like debit/credit cards, mobile payments (Apple Pay, Google Pay), online banking, and cryptocurrencies

power outage

an interruption in the supply of electricity