Which Technology Began as an Informal Communication Channel but Has

question 38

Multiple Choice

Which technology began as an informal communication channel but has since evolved into a primary and formal means of business correspondence for many organisations?

• A) Voice mail
• B) E-mail
• C) Instant messaging
• D) Videoconferencing
• E) Post-It notes

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Definitions:

Trade Deficit

A condition in which a nation's imports of goods and services surpass its exports, resulting in a deficit in the trade balance.

Absolute Advantage

A situation where a country, entity, or individual can produce a good or service more efficiently (using fewer resources) than another.

Comparative Advantage

The ability of a country or individual to produce a good or service at a lower opportunity cost than another entity, leading to more efficient trade.

Tariffs

Taxes on imported goods and services, imposed to raise revenue and/or protect domestic industries from foreign competition.