collective products

collective products

any goods or services that cannot be provided other than on a group basis because the quantity supplied to any one individual cannot be independently varied. Such products are non-excludable since it is difficult or impossible to exclude any individual from enjoying their benefits, for example, television airwave transmissions. Such products are also non-rival, insofar as one person's consumption of the product does not affect the consumption opportunities of anyone else. It is virtually impossible to get consumers to reveal their preferences regarding collective goods because rational consumers will attempt to become FREE-RIDERS, each understating his demand in the hope of avoiding his share of the cost without affecting the quantity he obtains. Consequently, such products cannot be marketed in the conventional way and we cannot use market prices to value them. Many goods and services supplied by government are of a collective nature, for example, national defence and police protection, and here government decides on the amounts of such products to provide and compels individuals to pay for them through taxation. See MARKET FAILURE, CLUB PRINCIPLE, SOCIAL PRODUCTS.
References in periodicals archive ?
The advertisers will have an excellent opportunity to showcase their individual and collective products and services and thereby strengthen their business opportunities locally and internationally," says Syed Aziz, project manager.
Whereas the collective products in the system work well together-each product offers independent performance property and sensory benefits, including:
Individual and collective products will be presented on the final day of the conference.
The new arrangement does not include quotation orders entered for the securities traded by market makers on the collective products or warrants markets.
These partnerships provide the opportunity for a mutually beneficial synchronization of efforts to expand the reach and integration of our collective products and services while enabling both to increase the respective reach and scope within the Fortune 1000/Global 2000 customer marketplace.
The collective products, IP, solutions and services of BTM Corporation provide its customers - both public and private, including large and small to medium enterprises - with a unique concept to value delivery approach that enables them to quickly recognize the financial and operational benefits of business technology convergence.
We anticipate a seamless transition as we focus on ensuring every client receives the same high quality service from the same high quality people for all our collective products.
The company will continue to support all of our collective products with exceptional customer service.
The combined company will continue to support all of our collective products and provide the highest standard of customer service.
We believe this new integrated facility will significantly enhance our manufacturing capabilities, and bring the collective products and services of 'One Mail-Well' to our customers," said Charles MacLean, executive vice president of the north region for Mail-Well's Commercial segment.
The alliance offers the collective products - augmented by the engineering, field, and manufacturing expertise - of the three market leaders to bring a customizable and flexible connectivity solution to telecommunication service providers.
Our collective products and services offerings will enable Avatech to deliver over time complete PLM solutions to mid-market companies in a variety of industries, including manufacturing, building design, facilities management, homeland security, pharmaceutical and petro-chemical," said Scotty Walsh, CEO of Avatech Solutions.

Full browser ?