While Most of Us Use Google Services Like Gmail, Google

question 124

Short Answer

While most of us use Google services like Gmail, Google Maps, YouTube and the search engine for free, the fact that it generates most of its revenue from other businesses means it is part of a __________________ market.

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Definitions:

Consumer Surplus

The difference between what consumers are willing to pay for a good or service and what they actually pay, representing the benefit to consumers from market transactions.

Equilibrium

The market condition where supply equals demand for a product, resulting in a stable price.

Consumer Surplus

The difference between what consumers are willing to pay and what they actually pay.

Market Price

The current price at which a good or service can be bought or sold, determined by the forces of supply and demand.