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RIVAL CONSUMPTION: Consumption of a good by one person imposes a cost on, or prevents consumption of the good by, another person. Some goods, like food, have extremely rival consumption. One person, and only one person, gets the benefit. Other goods, like national defense, have no consumption rivalry, everyone can benefit simultaneously without imposing a cost on others. This is one of the two key characteristics of a good (the other is excludability) that distinguishes between common-property goods, near-public goods, private goods, and public goods.

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NEEDS

The physiological or biological requirements for maintaining life, such as air, water, food, shelter, and sleep. Physiological needs are often contrasted with psychological wants that make life more enjoyable, but are not essential for existence.

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RED AGGRESSERINE
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Today, you are likely to spend a great deal of time surfing the Internet wanting to buy either an AC adapter for your CD player or storage boxes for your family photos. Be on the lookout for defective microphones.
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This isn't me! What am I?

Natural gas has no odor. The smell is added artificially so that leaks can be detected.
"It is part of the American character to consider nothing as desperate. "

-- President Thomas Jefferson

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