Use of Facebook for Purchases Has Grown Over the Last

question 120

Multiple Choice

Use of Facebook for purchases has grown over the last couple of years as Internet and smartphone connectivity has increased as well in these countries. This rising trend is an example of _________forces.

• A)social
• B)competitive
• C)technologic al
• D)economic

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Definitions:

Foster Competition

Encourages or promotes a competitive environment within a market, leading to benefits such as innovation and lower prices.

Insurance Companies

Financial institutions that provide coverage against specified losses in exchange for premium payments.

Deductibles

The amount policyholders must pay out of pocket before an insurance company will cover the remaining costs of a claim.

Moral Hazard

The situation where one party is more likely to take risks because they do not bear the full consequences of their actions, often occurring in insurance and finance.