The Use of Social Networks for Browsing and Buying Is

question 20

Multiple Choice

The use of social networks for browsing and buying is called

• A) cross-channel shopping.
• B) marketspace buying.
• C) personal interaction shopping.
• D) social commerce.
• E) sociodigital buying.

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Definitions:

Utility Maximization

The process by which individuals allocate their resources to maximize their satisfaction or utility.

Marginal Utility

The added gratification or usefulness experienced by a buyer when they consume an additional unit of a good or service.

Utility Maximization

The economic principle that individuals or firms strive to get the greatest satisfaction or benefit from their available resources.

Marginal Utility

The enhanced gratification or value a customer derives from consuming another unit of a good or service.