Explain Interpersonal and Mass Communication

question 47

Essay

Explain interpersonal and mass communication.

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Definitions:

Demand Curve

A graph showing the relationship between the price of a good and the quantity demanded by consumers at those prices.

Supply Curve

A visual chart that illustrates the connection between a product's price and the amount of the product that suppliers are prepared to offer.

External Benefits

Positive effects experienced by third parties or the society at large due to an economic transaction they were not directly involved in.

Competitive Market

A market structure characterized by many buyers and sellers, free entry and exit, and a homogeneous product.