Match the Term with Its Definition

question 53

Multiple Choice

Match the term with its definition. Some terms may not be used.
-A business model based on selling to final consumers electronically

• A)auction sites
• B)brick-and-mortar facility
• C)business incubator
• D)B2B model
• E)B2C model
• F)C2C model
• G)content-based model
• H)disintermediation
• I)e-commerce
• J)eCRM
• K)general-purpose equipment
• L)home-based business
• M)information-based model
• N)special-purpose equipment
• O)transaction-based model
• P)zoning ordinance

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Definitions:

Law Of Demand

The economic principle stating that as the price of a good or service increases, consumer demand for the good or service will decrease, and vice versa.

Income Increases

A situation wherein individuals or entities experience a rise in their earnings or profits over a certain period.

Inferior Good

A type of good for which demand decreases as the income of consumers increases, in contrast to a normal good.

Law Of Demand

A fundamental principle stating that, all else being equal, as the price of a product decreases, the quantity demanded increases, and vice versa.