Which of the Following Statements Best Describes E-Business

question 28

Multiple Choice

Which of the following statements best describes e-business?

• A)E-business includes the sale of raw materials between companies and using the Internet as an electronic network.Sales will usually be smaller dollar amounts with many sales.It is a broader concept than e-commerce.
• B)E-business includes using the Internet as an electronic network.Sales will usually be smaller dollar amounts with many sales.It is a broader concept than e-commerce.
• C)E-business includes the sale of raw materials between companies.Sales will usually be smaller dollar amounts with many sales.It is a broader concept than e-commerce.
• D)E-business includes the sale of raw materials between companies and using the Internet as an electronic network.It is a broader concept than e-commerce.

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Definitions:

Product Price

The sum of money needed to buy a specific product or service.

Wage Rate

The amount of compensation paid to employees for their labor per unit of time, often expressed per hour or year.

Substitution Effect

The economic principle that as prices rise (or incomes decrease), consumers will replace more expensive items with less costly alternatives.

Output Effect

The impact on an organization's total output resulting from a change in price, affecting the quantity supplied or demanded.