The Technical Term "____" Refers to Communications That Occur Outside

question 15

Multiple Choice

The technical term "____" refers to communications that occur outside of previously established communications method or channel.

• A) real-time
• B) in-line
• C) in-band
• D) out-of-band

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Definitions:

Elastic Demand

A condition where the quantity demanded of a good or service is highly responsive to changes in its price.

Output Effect

The impact on total revenue when a firm changes its output level, considering demand elasticity.

Substitution Effect

The change in consumption patterns due to a relative change in prices leading consumers to substitute one product for another.

Derived Demand

The demand for a good or service that arises from the demand for another good or service; for example, the demand for steel is derived from the demand for cars.