Which of the Following Statements Is True About Shopping Bots

question 5

Multiple Choice

Which of the following statements is true about shopping bots?

• A)​The broad-based type of shopping bot searches for prices for only one type of product such as consumer electronics (CNET) or travel-related services (Kayak).
• B)They create opportunities for prestige pricing.
• C)They search the Web for the best price for a product.
• D)​The niche-oriented shopping bot searches a wide range of product categories such as Google Shopping or Nextag.

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Definitions:

Microeconomics

Microeconomics analyzes individual decision makers and markets, focusing on supply and demand, price, and output decisions in individual markets.

Production Possibilities Frontier

A depiction that captures every maximum production possibility for two specific commodities, predicated on a range of inputs that includes resources and additional variables.

Opportunity Costs

The expense incurred from not selecting the next most favorable choice when a decision is taken or preferring one alternative over another.

Efficient

The characteristic of a resource allocation that maximizes the total surplus received by all members of society.