Neoliberalism Refers to a New Expansion in Time and Space

question 49

True/False

Neoliberalism refers to a new expansion in time and space of the free market

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Definitions:

Network Externalities

The effect that one user of a product or service has on the value of that product to other people, often positive, where the value increases as more people use it.

Profit-maximizing

The process or strategy of adjusting production and sale levels to achieve the highest possible profit.

Communications Network

A system of interconnected digital or analog devices and channels used for the purpose of exchanging information.

Willingness to Pay

The maximum amount an individual is ready to sacrifice to acquire a good or service or to avoid something undesirable.