Related to the Economics in Practice on Page 716: in the Kerala

question 83

Multiple Choice

Related to the Economics in Practice on page 716: In the Kerala region of India, fishermen used cell phones to help connect buyers and sellers, reducing waste. All of the following describe ways in which technology is likely to improve information flow and increase economic efficiency except

• A) fax technology makes it possible to transmit signed contracts in seconds, allowing the parties to the contract to begin performing their contract duties more quickly.
• B) high-speed Internet connections allow engineers in developing countries to collaborate with firms all around the world.
• C) e-mail now makes criminals who commit certain kinds of fraud very difficult to identify and arrest.
• D) video conferencing decreases the need for expensive business travel.

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Definitions:

Firm-Fixed-Price

A type of contract where the price agreed upon is not subject to any adjustments based on the cost experience of the supplier or service provider.

Substantial Chance

A significant opportunity or probability of occurrences that can have considerable effects or outcomes.

Purchasing Manager Indexes

Economic indicators derived from monthly surveys of private sector companies, providing insight into the economic health of the manufacturing sector.

Economic Indicators

Statistics and data points that provide insight into the overall health and direction of an economy.