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What Three-Factor Model Is Used for Representing the Impact on Environment

question 54

Essay

What three-factor model is used for representing the impact on environment? What is a fourth factor that could be added to this? Give a simple explanation for each factor and describe what it means in terms of human impacts on the environment.


Definitions:

Price Per Unit

A measure that indicates the cost of a single unit of a product or service.

Network Effects

The phenomenon whereby a product or service gains additional value as more people use it, enhancing its appeal and utility to new and existing users.

Economies Of Scale

Cost advantages that a business obtains due to expansion, seen in the form of reduced costs per unit as output increases.

Profit-Maximizing

The method or approach of adapting manufacturing and selling activities to secure the maximum potential profit.

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