Describe Briefly the History of the Internet

question 68

Essay

Describe briefly the history of the Internet. Which nations are becoming prominent among Internet users? How does their growth compare with the Internet readiness shown in Exhibit 19-2?

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Definitions:

Economic Rent

Economic rent is the excess payment made to or received by a factor of production over and above what would have been needed to bring that factor into production.

Competitive Factor Market

A market for inputs where firms purchase resources necessary for production, characterized by many sellers and buyers.

Inframarginal Workers

Employees whose productivity and wage are above the minimum required for employment, but are not the highest performers.

Marginal Expenditure Curve

A graph that shows the additional cost of purchasing one more unit of a good or service.