A situation in which the usefulness of a product increases with the number of consumers who use it
What will be an ideal response?
Network externality
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Which of the following is true of the banks that operate under Islamic law?
a. Islamic banks are not allowed to lend out to private firms. b. Islamic banks do not function as intermediaries between borrowers and lenders. c. Islamic Banks are not allowed to offer checking accounts or traveler's checks. d. Islamic banks are required to offer trade-related services free of cost. e. Islamic banks do not charge interest on loans or pay interest on deposits.
To say that the demand for labor is a derived demand means that
a. the quantity of labor is derived by the real wage rate b. the demand for labor depends upon the demand for the product produced by labor c. the supply of labor rises when the demand for labor falls d. equilibrium in the resource market ensures there is equilibrium in the product market e. changes in the demand for labor lead to changes in the demand for the product produced by labor
As additional firms enter an industry, the market supply curve
A. shifts to the left. B. shifts to the right. C. remains the same. D. none of the statements associated with this question are correct.
Government debt is defined as:
A. accumulated deficits minus accumulated surpluses. B. a shortfall of outgoing payments under incoming revenue. C. accumulated deficits plus accumulated surpluses. D. a shortfall of incoming revenue under outgoing payment.