You Can Now Purchase the Use of Many Apps by Paying

question 9

Multiple Choice

You can now purchase the use of many apps by paying a monthly subscription fee instead of paying for the entire product all at once. This arrangement is known as ____.

• A) software as a service (SaaS)
• B) sharing
• C) in-app purchasing
• D) pirating

---

Definitions:

AVC Curve

The average variable cost curve, which shows a firm's average variable costs of production at different levels of output.

Parkinson's Law

The adage that "work expands to fill the time available for its completion," suggesting efficiency decreases as the amount of time allocated to a task increases.

Pharmaceutical Industry

The sector of the economy that discovers, develops, produces, and markets drugs or pharmaceutical products for use as medications.

Marginal Cost

The augmentation in complete expenditure resulting from the manufacture of one more unit of a good or service.