How Would You Describe the Social Networking Site YouTube

question 26

Multiple Choice

How would you describe the social networking site YouTube?

• A) YouTube is a microblog that lets users post photos and then organize them into albums,add tags to categorize them,and invite comments.
• B) YouTube is a media-sharing network that lets users display and view videos and then post comments.
• C) YouTube is a discussion forum network that lets users have conversations on any topic.
• D) YouTube is a social curation site that lets users share and save links to websites on selected news topics to target the most relevant,useful,and high-quality information.

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Definitions:

Unregulated Monopoly

A market structure where a single seller controls the entire market for a product or service, with no governmental restrictions in place.

Pure Competition

A market structure characterized by a large number of small firms, a homogeneous product, free entry and exit, and perfect information.

Profit-maximizing

A company's goal to achieve the highest possible profit where the marginal cost of production is equal to the marginal revenue from sales.

Market Demand

The total quantity of a good or service that all consumers in a market are willing and able to purchase at various prices.