A Virtual Company

question 27

Multiple Choice

A virtual company:

• A)uses networks to link people,assets,and ideas.
• B)uses Internet technology to maintain a virtual storefront.
• C)uses Internet technology to maintain a networked community of users.
• D)provides entirely Internet-driven services or virtual products.
• E)is limited by traditional organizational boundaries.

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Definitions:

Economic Dominance

A situation where a company, product, or country has enough market power to influence market conditions or prices on a large scale.

Statutory Law

Laws and regulations enacted by legislative bodies at the federal, state, or local levels.

Judicial Precedent

A principle or rule established in a previous legal case that is binding or persuasive for a court when deciding subsequent cases with similar issues or facts.

Customs

The official department that administers and collects the duties levied by a government on imported goods, as well as the traditions and accepted practices within a society.