The Term ________ Refers to the Use of a Single

question 2

Multiple Choice

The term ________ refers to the use of a single unifying device that handles media, Internet, entertainment, and phone needs.

• A) multimedia message service
• B) telephony
• C) mobile switching center
• D) digital convergence

---

Definitions:

Market Wage Rate

This is the prevailing rate of pay for workers in a particular job or industry, determined by the supply of and demand for labor.

Power Cords

Electrical cables that connect an appliance to the main electricity supply.

Perfectly Competitive

A market structure characterized by a large number of small firms, a homogeneous product, freedom of entry and exit, and perfect information.

VMPL

The value of the marginal product of labor, which is the additional value created from an increase in labor input.