Emergent Properties Are

question 11

Multiple Choice

Emergent properties are

• A)houses which come on the market after a fixed legal period
• B)characteristics of a network which emerge as a result of interaction amongst the players
• C)hidden beneftis in a product innovation which only come out after a period of use
• D)characteristics of networks set up in newly industrialising countries like Brazil or India

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Definitions:

Market

Any structured exchange where buyers and sellers interact to trade goods, services, or information.

Price

The capital amount projected, necessary, or handed over in trade for something.

Deadweight Loss

The loss in social surplus that occurs when a market is not in efficient equilibrium, often due to externalities, taxes, or subsidies.

Underproduction

Refers to the situation in which a country's or firm's output is less than its productive capacity, often leading to shortages and economic inefficiency.