In economics, heterogeneity refers to the presence of diverse and varied characteristics or behaviors within a particular group, market, or economic system. This concept contrasts with homogeneity, where entities within a group share similar traits or properties. Heterogeneity can manifest in various forms, such as: 1. **Consumer Preferences**: Different consumers have unique preferences, incomes, and purchasing power, which affect their choices and demand for goods and services.
Articles by others on the same topic
There are currently no matching articles.