Privileged group

This crossword clue is for the definition: Privileged group.
it’s A 16 letters crossword puzzle definition.
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Possible Answers: ELITE.

Last seen on: LA Times Crossword 27 Jul 2018, Friday

Random information on the term “Privileged group”:

In economics, a public good is a good that is both non-excludable and non-rivalrous in that individuals cannot be effectively excluded from use and where use by one individual does not reduce availability to others.[1]

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Gravelle and Rees: “The defining characteristic of a public good is that consumption of it by one individual does not actually or potentially reduce the amount available to be consumed by another individual.” In a non-economic sense, the term is often used to describe something that is useful for the public generally, such as education and infrastructure, although these are not “public goods” in the economic sense. This is in contrast to a common good which is non-excludable but is rivalrous to a certain degree.

Public goods include knowledge, official statistics, national security, common language(s), flood control systems, lighthouses, street lighting, and Wikipedia itself. Public goods that are available everywhere are sometimes referred to as global public goods.[2] There is an important conceptual difference between the sense of “a” public good, or public “goods” in economics, and the more generalized idea of “the public good” (or common good, or public interest), “a shorthand signal for shared benefit at a societal level”.[3][4][5]

Privileged group on Wikipedia