Examlex
What is the name of a set of economic, social, and technology trends that collectively form the basis for the next generation of the Internet-a more mature, distinctive medium characterized by user participation, openness, and network effects?
Technological Advances
Refers to progress in scientific knowledge that enhances or improves technology, making processes more efficient, products more useful, or services more accessible.
Output Effect
The possibility that when the price of the first of a pair of substitute resources falls, the quantity demanded of both resources will increase.
Present Consumption
The use of goods and services for immediate satisfaction or needs, as opposed to saving for future use.
Loanable Funds
The supply of available capital in the financial markets for borrowing, which can be used for investment purposes by individuals and businesses.
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