Define Location-Based Services and Describe the Main Categories of These

question 59

Essay

Define location-based services and describe the main categories of these services.Which of the categories do you feel has the most potential in terms of e-commerce revenues,and why?

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Definitions:

Wage Rate

The amount of money that is paid to a worker for a specified quantity of labor, usually expressed per hour or piece of work done.

Cobb-Douglas

A type of production function used in economic modeling to represent the relationship between two or more inputs (typically labor and capital) and the output they produce.

Labor Earnings

The income earned by workers for their labor, typically measured in terms of wages or salaries.

Endowed

Having been provided or supplied with a particular attribute, resource, or piece of knowledge naturally or by circumstance.