Describe the Five LOs of Crowds and Provide an Example

question 59

Essay

Describe the five LOs of crowds and provide an example of each.Which LOs of crowds do you think are the most beneficial or harmful to society? Why?

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Definitions:

Profitable Use

The application of resources in a manner that generates a financial gain or benefit to the user or owner.

Shortage

A situation where the demand for a product or service exceeds its supply in a market.

Quantity Supplied

The amount of a good or service that producers are willing to sell at a given price over a specific period.

Inventories

Quantities of goods or materials on hand or in the process of being produced for sale.