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In economics, the law of increasing return is also known as the network effect. This explains the positive effect a user of a product has on the value of said product as it pertains to other people. Namely, the more people that use a product, the more valuable it is. A prime example is internet access. The more people who have internet access, the more people will want or need internet access to communicate with those people.
What else can I help you with?
What is increasing in Hooke's law?
Hooke's law is about proportionality. So whatever is increasing can also be decreasing.
How do you explain the law of variable proportion?
Explain the Law of Variable Propotion
How do you explain excitation?
by increasing the terminal voltage
What does the law of increasing opportunity costs explain?
the increasing amounts of one commodity that a nation must give up to release just enough resources to produce each additional unit of another commodity. THis is reflected in a production frontier that is concave from the origin.
How does Increasing return affect productivity?
I dont know
What generates the law of increasing opportunity costs?
The law of increasing opportunity costs states that the more of a product that is produced the greater is its opportunity cost.
The Law of Return brought an increase in Israel's?
The Law of Return allowed for an increase in Israel's Jewish population.
How do you explain the peculiarity of siren?
A myth to explain why ships did not return or were found wrecked with no crews.
What does the law of increasing cost explain?
The law of increasing cost explains that as production increases, the opportunity cost of producing additional units of a good also increases. This is because resources are not equally efficient in producing all goods, and as more of one good is produced, resources are shifted from their most efficient use to less efficient uses.
The law of increasing costs means that when an economy increases the production of one item .?
what law of increasing costs means that when an economy increases the production of one item _____.
Can you explain the Term cancellation return only in marine hull insurance?
cancellation return only
What type insurance would be used for a return of premium rider?
Increasing term
