An E-Commerce Platform Is the Software That Makes It Possible

question 88

True/False

An e-commerce platform is the software that makes it possible for a business to sell online.

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Definitions:

Allocative Efficiency

A state of resource allocation where goods and services are distributed according to consumer preferences, reflecting the highest possible welfare.

Economic Profits

Profits exceeding the opportunity costs of all resources employed, indicating above-normal returns.

Purely Competitive

Another term for perfectly competitive, describing a market with no single buyer or seller able to influence prices.

Demand Curves

Graphical representations of the relationship between the price of a good and the quantity demanded by consumers at various prices.