What Is a Large Network of Networks

question 33

Multiple Choice

What is a large network of networks?

• A)Electronic commerce
• B)The Internet
• C)EDI
• D)A local area network

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Definitions:

Economic Profit

The profit a company makes after deducting both its explicit costs (like materials and wages) and its implicit costs (like opportunity costs), representing the additional amount earned over what could have been earned from the next-best alternative.

Labor And Capital

The primary factors of production where labor refers to the work done by humans, and capital refers to financial assets or physical tools and machinery used to produce goods and services.

Most Efficient Combination

The optimal mix of factors or inputs that produces the highest output or outcome for a given set of resources or costs.

Cost Per Unit

The total expense incurred to produce, store, and sell one unit of a product or service.