Source: Images by Video Scribe, License Held by Colton Cranston
Also economic equity; the concept that all people, regardless of geographical location, race, gender, and national identity, should be conferred basic quality of life rights that include fair pay, housing, access to medical care, and education, among other characteristics.
The effects of a good or service to a third party; can be negative or positive.
Amount of utility gained by consuming an additional single unit of product.
Additional cost incurred when producing one additional product.
The theory underlying the study of firm and consumer behavior.