A Few Examples of Ebusiness Advantages Can Include Opening New

question 67

True/False

A few examples of ebusiness advantages can include opening new markets, reducing costs, and expanding global reach.

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Definitions:

Elastic

Describes a situation in which the demand or supply for a product changes significantly when its price changes.

Barriers

Obstacles that prevent or hinder entry into a market or the pursuit of certain activities, which can be economic, legal, technical, or natural in nature.

Allocative Efficiency

A state of the economy in which production represents consumer preferences; every good or service is produced up to the point where the last unit provides a benefit to consumers equal to the cost of producing it.

Productive Efficiency

A state where goods and services are produced at the lowest possible cost and resources are utilized in the most efficient way.