The Rapid Evolution of Online Systems Has Led to Complete

question 26

Multiple Choice

The rapid evolution of online systems has led to complete transparency in:

• A) Management's practices
• B) Distribution channels
• C) Pricing
• D) Employee morale

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Definitions:

Scarcity

At the heart of economic challenges lies the conflict between boundless human demands and the scarcity of resources.

Goods

Tangible products that are manufactured, bought, or sold, fulfilling the needs or desires of consumers.

Choices

The act of selecting between two or more possibilities or options in a decision-making process.

Rationing

Allocating a limited supply of a good or resource among people who would like to have more of it. When price performs the rationing function, the good or resource is allocated to those willing to give up the most “other things” in order to get it.