An Emerging Payment Option Is the Use of ____________________ Payment

question 49

Short Answer

An emerging payment option is the use of ____________________ payment systems-systems that allow individuals to pay for products and services via a mobile phone or other portable device.

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Definitions:

Allocative Efficiency

An allocation scenario where it's not feasible to enhance one person's well-being without negatively impacting another's.

Scarce Resources

Limited natural, human, and capital resources that cannot satisfy all wants and needs.

Consumer Preferences

Describes the subjective tastes and preferences of individual consumers, influencing their purchasing decisions.

Marginal Benefit

The additional satisfaction or value a consumer gains from consuming one more unit of a good or service.