Many Industries Have Been Forced to Change Due to Technology

question 37

Multiple Choice

Many industries have been forced to change due to technology advances. Which of the following industries has felt the lowest amount of economic impact from ebusiness?

• A) Auto industry
• B) Retail industry
• C) Travel industry
• D) Waste or recycling industry

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Definitions:

Supply Curve

A graphical representation showing the relationship between the price of a good or service and the quantity supplied by producers over a period of time.

Levied

Imposed by authority, typically referring to taxes, fees, or fines.

Total Surplus

The combined total of producer and consumer surplus, indicating the overall net gain for society from producing and consuming a product or service.

Government Imposes

Refers to regulatory actions, taxes, or policy decisions enforced by a government body to regulate social, economic, or environmental practices.