One Defining Characteristic of a Virtual World Is

question 11

Multiple Choice

One defining characteristic of a virtual world is

• A) It is part of a game.
• B) It involves a computer based simulated environment.
• C) Participants cannot use their own identity.
• D) Allows for the same types of advertising as is found online.
• E) Has a similar structure to a discussion forum.

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Definitions:

Opportunity Cost

The omission of possible gains that could come from different options when one is preferred.

Comparative Advantage

The competence of an individual, firm, or nation to forge a good or render a service with a lower forfeited opportunity compared to others in the market.

Productivity

A measure of the efficiency of production, usually defined as the ratio of outputs produced to inputs used.

Opportunity Costs

The cost of foregoing the next best alternative when making a decision or choosing one option over another.