Google
Friday 
April 25, 2025 

AmosWEB means Economics with a Touch of Whimsy!

AmosWEBWEB*pediaGLOSS*aramaECON*worldCLASS*portalQUIZ*tasticPED GuideXtra CrediteTutorA*PLS
COMMON-PROPERTY GOOD: A good that's difficult to keep nonpayers from consuming, but use of the good by one person prevents use by others. Examples include oceans, the atmosphere, many lakes and streams, and large tracts of wilderness area or public parks. The term "common property" aptly describes the situation here, it's commonly owned and thus everyone has access to it, but it can be easily used up or destroyed. Many of our pollution problems occur because common property becomes a convenient place to dump waste materials. For efficiency, government needs to take charge of common-property goods, private exchange through markets can't do the job.

Visit the GLOSS*arama

Most Viewed (Number) Visit the WEB*pedia

EXOGENOUS VARIABLE: A variable that is identified outside the workings of the model. Also termed an independent variable, an exogenous variable is in essence the "input" of the model. It should be compared with an endogenous variable this is the "output" of the model.

     See also | variable | model | endogenous variable | economic analysis | comparative statics | abstraction |


Recommended Citation:

EXOGENOUS VARIABLE, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2025. [Accessed: April 25, 2025].


Search Again?

Back to the GLOSS*arama

VOTING PROBLEMS

Voting is a key source of government inefficiency because it can fail to provided leaders with a valid indication of society's preferences. Part of the inefficiency rests with utility-maximizing decisions of the voters, who choose rational ignorance (not to be informed) and rational abstention (not to participate), both of which lead to voter apathy and influential special interest groups. Part of the inefficiency rests with the voting process, which results in importance of the median voter, inconsistency of the voting paradox, and logrolling (vote-trading ) among voters.

Complete Entry | Visit the WEB*pedia


APLS

GREEN LOGIGUIN
[What's This?]

Today, you are likely to spend a great deal of time at a dollar discount store hoping to buy either a replacement battery for your pocket calculator or a how-to book on home remodeling. Be on the lookout for strangers with large satchels of used undergarments.
Your Complete Scope

This isn't me! What am I?

More money is spent on gardening than on any other hobby.
"The greatest things ever done on Earth have been done little by little. "

-- William Jennings Bryan

X
Exports;Marks the Spot
A PEDestrian's Guide
Xtra Credit
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.

User Feedback



| AmosWEB | WEB*pedia | GLOSS*arama | ECON*world | CLASS*portal | QUIZ*tastic | PED Guide | Xtra Credit | eTutor | A*PLS |
| About Us | Terms of Use | Privacy Statement |

Thanks for visiting AmosWEB
Copyright ©2000-2025 AmosWEB*LLC
Send comments or questions to: WebMaster