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Some scholars contend that instead of creating a global village, the new technomedia promote a polarization of society into the haves and have-nots and an increase in individualism.
Trade
The act of buying, selling, or exchanging goods and services between people or entities.
Economic Outcome
The result or consequence of economic activities and policies on an economy's overall condition.
Marginal Rate Of Substitution
The speed at which a consumer is able to forfeit a certain quantity of one product in favor of another product, whilst retaining an equivalent level of satisfaction.
Efficiency
Efficiency in an economic context refers to the optimal production and allocation of resources to maximize the satisfaction of needs and wants with minimal waste.
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