Examlex
How do you account for the spread of industrialization outside of England in the nineteenth century?
Demanded Design
A design approach or product feature specifically requested or sought after by consumers or the market.
Consumer Surplus
The variance between the amount consumers are ready to spend on a good or service and the actual amount they pay.
Efficiency
The degree to which resources are used effectively and waste is minimized, often aiming at maximizing output from given inputs.
Highest-value Bidder
The participant in an auction willing to pay the most for the item up for bid.
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