_________ Is the Gathering of Information from a Large Group

question 31

Multiple Choice

_________ is the gathering of information from a large group of people.

• A) LBS
• B) Real-time information
• C) Crowdsourcing
• D) Cloud computing

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Definitions:

Actual Price

The price at which a good or service is sold, not considering discounts or adjustments.

Consumer Surplus

The difference between the total amount that consumers are willing to pay for a good or service and the total amount that they actually pay.

Priced At

The specified cost at which a good or service is offered for sale in the market.

Surplus

The amount by which the quantity supplied of a product exceeds the quantity demanded at a specific (above-equilibrium) price.