_____ Is the Direct Electronic Transmission,from Computer to Computer,of Standard

question 125

Multiple Choice

_____ is the direct electronic transmission,from computer to computer,of standard business forms between two organizations.When this technique is used,orders can become virtually paperless,and information about the order is available to both firms.

• A) Business prioritizing
• B) Electronic data interchange
• C) Just-in-time inventory
• D) Real-time inventory
• E) Direct sourcing

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Definitions:

Cournot Model

An economic model that describes an industry structure in which companies compete on the quantity of output they will produce, assuming that each firm's output decision affects the market price.

Perfectly Competitive

A market structure characterized by a large number of small firms, a homogenous product, and free entry and exit, leading to price taking behavior.

Price-leadership Model

An economic concept where one or more dominant firms set their prices, and other, smaller firms in the industry then follow by setting the same or similar prices.

Dominant Firm

A company that holds a large portion of the market share within its industry, exerting significant influence or control over market conditions, including prices and product offerings.