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The Snob Effect
- If network is negative externality, a snob effect exists.
* The snob effect refers to desire to own unique or exclusive goods.
* The quantity demanded of snob good is higher the fewer the people who are having it.
Network Externalities and Demands for Computers and Fax Machines
* Examples of Positive Feedback Externalities
- Mainframe computers: 1954 - 1965
- Microsoft Windows PC OS
- Fax-machines and electronic mail
Neutrality: Bureaucracy is apolitical and neutral. Prof. Frocderich mentions the following features of bureaucracy: (i) differentiation of functions, (ii) qualifications for o
Uses of national income statistics: - It helps to organize economic data and activities. - It helps to classify economic activities into various segments or sectors. - It he
How equilibrium is achieved under monopoly
Price: The price factor is another important variable to be included in demand analysis. Here one has to consider the prices of the product and also its substitute and complement
Cost Sharing in Higher Education - Graduate Tax Another commonly suggested measure is to tax the employers employing educated manpower. The case for this method is made on the
International trade: International trade refers to the exchange of goods and services between countries. Goods sold to other countries are referred to as exports and goods bou
TREND AND STRUCTURE OF INCOME: Each sector of the economy employs natural, human and material resources and contributes to the aggregate flow of goods and services during a gi
Uses of population census: It is used to determine the size and the growth rate of the population at a country. The helps the government in planning for education, transporta
Q. What is International Monetary Fund? International Monetary Fund: An international financial institution established after World War II with the goal of stabilizing and regu
Evaluating the Gains and Losses from the Policies of Government: Consumer and Producer Surplus * Review - Consumer surplus is total benefit or value which consumers rece
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