Examlex
The slope of the consumption function equals the marginal propensity to consume.
Network Externality
A situation where the value of a product or service increases for a user when more people use it.
A social networking platform that allows users to create profiles, share photos and videos, send messages, and keep in touch with friends, family, and colleagues.
Positive Externality
A benefit that affects a party who did not choose to incur that benefit, often associated with public goods or services.
Price Elasticity
The measure of how the quantity demanded of a good or service changes in response to a change in its price.
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