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A Company That Formerly Produced Software Went Out of Business

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A company that formerly produced software went out of business because too many potential customers bought illegally-produced copies of the software instead of buying the product directly from the company.This instance serves as an example of


Definitions:

Value Judgments

Assessments or opinions made based on a set of criteria or moral standards rather than factual evidence alone.

Marginal Costs

The increase or decrease in the total costs incurred by producing one additional unit of a product or service.

Resources Scarcity

The economic problem of having seemingly unlimited human wants in a world of limited resources.

Consumer's Income

The total amount of earnings available to an individual or household to spend or save after taxes.

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