Search results
Results from the WOW.Com Content Network
In economics, a demerit good is "a good or service whose consumption is considered unhealthy, degrading, or otherwise socially undesirable due to the perceived negative effects on the consumers themselves"; [1] [2] [3] it could be over-consumed if left to market forces of supply and demand.
In economics, a good, service or resource is broadly assigned two fundamental characteristics; a degree of excludability and a degree of rivalry. Excludability was originally proposed in 1954 by American economist Paul Samuelson where he formalised the concept now known as public goods , i.e. goods that are both non-rivalrous and non-excludable ...
Cronyism is a specific form of in-group favoritism, the spoils system practice of partiality in awarding jobs and other advantages to friends or trusted colleagues, especially in politics and between politicians and supportive organizations. [1]
According to Doctorow, Facebook offered a good service until it had reached a "critical mass" of users, and it became difficult for people to leave because they would need to convince their friends to go with them. Facebook then began to add posts from media companies into feeds until the media companies too were dependent on traffic from ...
In sociology, a friend of a friend is a human contact that exists because of a mutual friend. Person C is a friend of a friend of person A when there is a person B that is a friend of both A and C. Thus the human relation "friend of a friend" is a compound relation among friends, similar to the uncle and aunt relations of kinship .
Road is public good whenever there is no congestion, thus the use of the road does not affect the use of someone else. However, if the road is congested, one more person driving the car makes the road more crowded which causes slower passage. In other words, it creates a negative externality and road becomes common good. [1]
A aggravate – Some have argued that this word should not be used in the sense of "to annoy" or "to oppress", but only to mean "to make worse". According to AHDI, the use of "aggravate" as "annoy" occurs in English as far back as the 17th century. In Latin, from which the word was borrowed, both meanings were used. Sixty-eight percent of AHD4's usage panel approves of its use in "It's the ...
Over time, some consequential stranger connections become close friends or even intimate partners, while others stay at the level of acquaintanceship—for example, those "anchored" to a particular place, such as a school, gym, or train station or involved in a paid service or status hierarchies (e.g., a boss and worker).