Shopping Bots

question 63

Multiple Choice

Shopping bots:

• A) encourage a more creative use of advertising
• B) link manufacturers,suppliers,and customers
• C) create opportunities for prestige pricing
• D) provide a means for comparison shopping
• E) create inelastic demand

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Definitions:

Consumer's Surplus

The difference between what consumers are willing to pay for a good or service and what they actually pay, representing the benefit consumers receive from the purchase.

Earplugs

Small devices inserted into the ear canal to protect the ears from loud noises, water, or foreign bodies.

Consumer's Surplus

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

Earplugs

Small devices inserted into the ear canal to protect the ears from loud noises, water, or to block out sound for concentration or sleep.