Two Specific Types of ____ Are E-Commerce Systems and Point-Of-Sale

question 2

Multiple Choice

Two specific types of ____ are e-commerce systems and point-of-sale (POS) systems.

• A) order entry systems
• B) accounting systems
• C) office systems
• D) document processing systems

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Definitions:

Income Effect

The variation in income for a person or an economy and its impact on the demand for a specific good or service.

Perfect Substitutes

Goods that can serve the same purpose perfectly, where consumers are indifferent between them and will select based on price.

Giffen Good

A product that paradoxically sees an increase in demand as its price increases, violating the basic law of demand due to the income effect overshadowing the substitution effect.

Inferior Good

A type of good whose demand decreases as the income of consumers increases, opposite of a normal good.