Internet-Based Programs Such as You Tube, MySpace, and Facebook Are

question 3

Multiple Choice

Internet-based programs such as You Tube, MySpace, and Facebook are collectively referred to by what term?

• A) new media
• B) cyber-reality
• C) social media
• D) direct impact media

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Definitions:

Wage Rate

The standard amount of compensation received by employees for services rendered per unit of time, often expressed as an hourly rate or annual salary.

Monopsonist

A market scenario characterized by the presence of a single buyer and multiple sellers, granting significant pricing power to the buyer.

Marginal Cost

The additional expense incurred from manufacturing an extra unit of a product or service.

Wage Rate

The amount of compensation an employee receives per unit of time or per task performed, often expressed per hour or piece.