The Top Two Activities Consumers Perform on Their Mobile Smartphones

question 7

Multiple Choice

The top two activities consumers perform on their mobile smartphones are: 

• A) emailing.
• B) Facebook viewing.
• C) texting.
• D) A and B.
• E) A and C.

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Definitions:

Take a Loss

To realize a financial loss on an investment or transaction, often as a result of selling assets for less than their purchase price.

Short Run

A period in economics during which at least one input (e.g., factory size) is fixed and cannot be changed.

Long Run

A period of time in economics during which all factors of production and outputs are variable, allowing for full adjustment to changes.

Perfect Competitor

A theoretical concept in which a market structure has many small sellers, all producing homogeneous products with no control over market price.