| Definition | Economic Term | Symbol |
|---|
| The property of a good whereby one persons use diminishes other people's use. | |
| Goods rival in consumption but not excludable | |
| Goods that are neither excludable nor rival in consumption | |
| Goods that are excludable but not rival. | |
| A person who receives the benefit of a good but avoids paying for it. | |
| Goods that are both excludable and rival in consumption. | |
| The property of a good whereby a person can be prevented from using it. | |
| A parable that illustrates why common resources are used more than is desirable from the standpoint of a society as a whole | |
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