In Marketspace, Buzz Refers to

question 166

Multiple Choice

In marketspace, buzz refers to

• A) instant messaging.
• B) Facebook posting or tweeting.
• C) word-of-mouth behavior.
• D) firm-based viral marketing.
• E) negative online ads.

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Definitions:

Property Right

A legal right or privilege, granted by law, to use, control, and derive benefits from a resource or property.

Marginal Social Cost

The cumulative expense to society for creating one more unit of a product or service, encompassing both the personal costs and any external effects.

Private Marginal Cost

Private marginal cost refers to the cost that a company incurs for producing an additional unit of a good or service, excluding any external costs.

Marginal Social Cost

The total cost to society of producing one additional unit of a good or service.