New Developments in Information Technology Have

question 76

Multiple Choice

New developments in information technology have

• A) had little effect on business location decisions.
• B) given firms even greater flexibility in their location decisions.
• C) caused a movement of firms back to urban areas where access to this technology is greatest.
• D) reduced the impact government policies have on location decisions.

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Definitions:

Number of Buyers

Refers to the overall or potential quantity of consumers or entities in the market willing to purchase goods and services.

Law of Supply

The law of supply states that, keeping other factors constant, an increase in the price of a good or service will increase its supply, and vice versa.

Quantity Supplied

The amount of a good or service that producers are willing to sell at a given price over a specified period.

Market Supply Curve

A graphical representation showing the quantity of goods that sellers are willing and able to sell at different prices.