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A positive externality is one in which there is an external benefit bestowed on a third party>
Customized Products
Goods that are tailored or modified to meet the specific wants or needs of individual customers or clients.
Cost-Effective
Describes a process, method, or system that provides the best possible outcome or value for the money spent.
Potential Consumers
Individuals or groups who are likely to buy a product or service but have not yet made the purchase.
Retail Price
The total cost that a customer pays for a product or service when purchased through a retail channel, including overheads and profit margins.
Q68: Comparative advantage is based on opportunity costs.
Q72: The economic question of what to produce
Q78: Refer to Exhibit 4.2 of the demand
Q85: When business leaders become pessimistic about future
Q99: Absolute advantage is based on opportunity cost.
Q101: As resources are not perfectly adaptable to
Q103: _ indicate(s) how much producers are willing
Q148: Which of the following is measured along
Q151: If fewer families have young children, the
Q201: _ reflects the relationship between the economy's