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Please Define the Following Key Terms

question 55

Essay

Please define the following key terms. Show Who? What? Where? When? Why Important?
-Bank of France


Definitions:

Willingness to Pay

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

Proportional

A relationship or ratio between two quantities where one is directly proportional to the other.

Communications Network

A system of interconnected computers, telephones, or other devices that allow for the exchange of data and information.

Willingness to Pay

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

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