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In economics, a free good is a good that is not scarce, and therefore is available without limit. [1] [2] [3] A free good is available in as great a quantity as desired with zero opportunity cost to society. A good that is made available at zero price is not necessarily a free good.
[1] Scarcity is the limited availability of a commodity, which may be in demand in the market or by the commons. Scarcity also includes an individual's lack of resources to buy commodities. [2] The opposite of scarcity is abundance. Scarcity plays a key role in economic theory, and it is essential for a "proper definition of economics itself". [3]
An elastic good is one for which there is a relatively large change in quantity due to a relatively small change in price, and therefore is likely to be part of a family of substitute goods; for example, as pen prices rise, consumers might buy more pencils instead. An inelastic good is one for which there are few or no substitutes, such as ...
Very good (VG) describes a book that is worn but untorn. For many collectors this is the minimum acceptable condition for all but the rarest items. Any defects must be noted. Good (G) describes the condition of an average used worn book that is complete. Any defects must be noted.
Sometimes a company sells a durable good at an attractively low price in the hopes that the consumer will then buy the consumables that go with it at a price providing a higher margin. Printers and ink cartridges are an example, as are cameras and film as well as razors and blades , which gave this business model its usual name (the razor and ...
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These "limited editions" usually contain the best DVD edition possible of a film with special items in a box set, sometimes containing items available only in the limited edition. Items marked thus are often (but not always) released for a shorter time and in lower quantity than common editions, often with a running number (e.g. "13055 of 20000 ...
Image source: The Motley Fool. Unity Software (NYSE: U) Q4 2024 Earnings Call Feb 20, 2025, 8:30 a.m. ET. Contents: Prepared Remarks. Questions and Answers. Call ...