The Development of the Internet and E-Mail to Replace Regular

question 57

Multiple Choice

The development of the Internet and e-mail to replace regular mail services in many cases would be an example of:

• A)roundabout production.
• B)derived demand.
• C)creative destruction.
• D)specialization.

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Definitions:

Output

The total amount of goods or services produced by a company or economy in a given period.

Production Function

A technological relationship expressing the maximum quantity of a good attainable from different combinations of factor inputs.

Inputs

Resources used in the production process, including labor, capital, materials, and energy.

Marginal Output

The additional amount of output that is produced as a result of a one unit increase in the input of a production process.