Describe the Six Ebusiness Tools for Connecting and Communicating

question 18

Essay

Describe the six ebusiness tools for connecting and communicating.

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Definitions:

Output

Output refers to the quantity of goods or services produced by a company, industry, or economy within a certain period.

Nondiscriminating Monopolist

A monopolist that charges the same price to all consumers for its product, regardless of demand differences.

Elastic

Refers to the responsiveness of the demand or supply of a good or service to changes in its price.

Demand Curve

A graphical representation showing the relationship between the price of a good and the quantity of that good consumers are willing and able to purchase at various prices.