Social Media Have Empowered Consumers, but Are Yet to Make

question 46

True/False

Social media have empowered consumers, but are yet to make an impact on internal communication and on traditional barriers in the organizational hierarchy.

---

Definitions:

Labor Income

Earnings derived from work or employment, including wages, salaries, bonuses, and other compensation.

Tax Rate

The percentage at which an individual or corporation is taxed, often applied to income or transactions.

Lump Sum Payment

A single payment made at a particular time, as opposed to a series of smaller payments or installments.

Budget Line

A budget line represents all possible combinations of two goods that a consumer can purchase with a given budget, at set prices.