What Do You Call an Online Method of Getting Goods

question 9

Multiple Choice

What do you call an online method of getting goods or services from a large group of people?

• A) Cannibalizing.
• B) Co-opting.
• C) Corralling.
• D) Craiglist.
• E) Crowdsourcing.

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Definitions:

Total Fixed Costs

The overall sum of all costs that do not change with the level of output, such as rent, salaries, and insurance.

Total Costs

The aggregate expense incurred in the production and delivery of goods or services, combining direct, indirect, fixed, and variable costs.

Total Variable Costs

This represents the sum of all costs that vary with the level of output in the production process, such as materials and labor directly involved in making a product.

Average Fixed Costs (AFC)

The fixed costs of production (not varying with output) divided by the quantity of output produced; typically decreases as production increases.