Shopping Online Allows Customers to Compare Prices of Many Goods

question 318

Multiple Choice

Shopping online allows customers to compare prices of many goods and services. This technology will likely

• A) cause businesses to increase their focus on nonprice aspects of their promotional message.
• B) bring about more emphasis on demand-oriented pricing.
• C) diminish in importance as quickly as other fads.
• D) focus government attention on the collusive pricing practices of firms in specific industries.

---

Definitions:

Willingness To Sell

The minimum price at which a person or entity is prepared to sell a good or service, reflecting the value at which they are ready to part with it.

Producer Surplus

Producer surplus is the difference between what producers are willing to accept for a good or service versus what they actually receive, indicating the benefit to producers.

Market Price

The current price at which a good or service can be bought or sold in the market.

Costs Of Production

The expenses incurred in manufacturing a product or providing a service, which may include raw materials, labor, overhead, and any other costs directly tied to the production process.