Which of the Following Describes an Environment in Which Data

question 149

Multiple Choice

Which of the following describes an environment in which data is instantly available via the Internet to organizational partners?

• A) Networking
• B) Real time
• C) Virtual business
• D) E-commerce

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Definitions:

Trade

The action of buying, selling, or exchanging goods and services between people, businesses, countries, etc., often for money.

Resource Scarcity

The limited availability of natural resources, leading to constraints on production, consumption, and the ability to meet human needs and desires.

Opportunity Costs

The loss incurred by dismissing the subsequent preferable option in the course of decision-making or selecting one possibility over another.

Equilibrium

Equilibrium is a state in economics where market supply and demand balance each other, and as a result, prices become stable.