Smart Systems Are

question 121

Multiple Choice

Smart systems are

• A)computer-based networks that trigger actions by sensing changes in the real or digital world.
• B)highly organized social media campaigns that use avatars to promote a brand.
• C)social networking sites that allow for people to keep in touch with photos,videos,and short-text entries.
• D)financially successful social networking sites.
• E)programs that provide measures of an ad's success on social networking sites.

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Definitions:

Relatively Elastic

Describes a situation where a small change in price leads to a larger change in the quantity demanded or supplied.

Decrease in Price

A reduction in the cost of a good or service, which can influence consumer demand and potentially market dynamics.

Price Elasticity of Demand

A measure of how much the quantity demanded of a good responds to a change in its price, indicating its sensitivity.

Water Consumption

The amount of water used by individuals, businesses, or agricultural processes, often measured to assess sustainability or efficiency.