Gabriella Wants to Compare the Price of a Designer Bag

question 273

Multiple Choice

Gabriella wants to compare the price of a designer bag she saw in a local department store,with other stores that may have the same.She locates the product on three different websites on the Internet,and then stumbles on a site that does the price shopping for her.Gabriella's quest is an example of how customers are using __________ to solve problems.

• A)price shopping
• B)databases
• C)information technology
• D)social networking

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Definitions:

Pesos

The national currency of several countries in Latin America as well as the Philippines.

Law of One Price

The law of one price posits that in efficient markets, identical goods should have only one price, accounting for transportation costs and after tax adjustments.

Exchange Rate

The value of one currency for the purpose of conversion to another, indicating how much of one currency can be exchanged for another.

Canadian Dollars

The Canadian Dollar is the currency of Canada, symbolized as CAD or C$, and it is one of the major currencies traded globally.