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

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Definitions:

Economy

A framework for creating, distributing, and utilizing goods and services in a specific geographic region.

Economic Growth

A boost in the purchasing power adjusted market value of goods and services an economy creates over time.

Long Run

A period in economics sufficient for all markets to adjust, including production facilities and labor.

Capital

A resource, either financial or physical, that is employed with the aim of generating wealth through investment or production.