Identify and Briefly Describe Three Crucial Factors That Come into Play

question 62

Essay

Identify and briefly describe three crucial factors that come into play in determining whether a particular method of e-payment successfully achieves critical mass.

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Definitions:

Marginal Utility

The additional satisfaction or utility that a consumer derives from consuming one more unit of a good or service.

Marginal Utility

It describes the additional satisfaction or utility that a consumer receives from consuming one more unit of a good or service.

Total Utility

The overall satisfaction or benefit received by consuming a product or service.

Marginal Utility

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