Identify the Following Term(s)

question 73

Short Answer

Identify the following term(s).
-Ming Empire

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Definitions:

Negative Network Externalities

Adverse effects on a user of a product or service because the number of other users is too large or incompatible in some way.

Snob Effect

A phenomenon where the demand for a particular good increases as the price increases because the good is perceived as exclusive or high-status.

Pure Price Effect

The impact on consumer demand and behavior resulting solely from a change in the price of a good or service, with income and substitution effects considered separately.

Externality Effect

The impact of one person's actions on the well-being of a bystander, which may be positive or negative and not reflected in market prices.