Which of the following are included in interest income?
i. payments made for the use of land
ii. income paid to households for loans they make
iii. payments made by households for their borrowing
A) i, ii and iii
B) ii and iii only
C) i and ii only
D) iii only
E) ii only
B
Economics
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The term "network externality" refers to a barrier to entry that exists because:
A) the value of the product to a consumer depends on the number of consumers using the product. B) a group of firms has divided the market into interconnected shares controlled by each firm. C) several firms are able to network with each other and control the market. D) consumers are unable to network, i.e., cooperate, with each other to control market price.
Economics
The most basic concept in economics is
A) wealth. B) income. C) scarcity. D) spending.
Economics