The Order of the Letters Along the Rows of Computer

question 135

Multiple Choice

The order of the letters along the rows of computer keyboards could be changed to allow users to type faster, but this would inconvenience the vast majority of people who learned to type with the current keyboard layout.The costs of switching to a new layout make this change unlikely.This is an example of

• A)path dependency.
• B)how social influences overwhelm the substitution effect of a price change.
• C)how the elasticity of demand for typewriters has been affected by externalities.
• D)how consumers sometimes do not behave rationally.

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Definitions:

Positive Net Income

A financial situation where a company's total revenues exceed its total expenses, indicating profitability.

Inexpensive to Organize

Refers to the low cost associated with setting up a certain type of business structure or organization.

Personal Assets

Items or properties owned by an individual that have value.

Mutual Agency

A legal principle in partnership that allows each partner to act on behalf of the partnership, binding it in contracts and agreements.