_____ Are Best Described as Specialized Internet Sites, Which Provide

question 45

Multiple Choice

_____ are best described as specialized Internet sites, which provide a platform to interact for businesses, specifically those involved in business-to-business (B2B) transactions.

• A)Social networking sites
• B)E-marketplaces
• C)Blogs
• D)I-commerce sites

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Definitions:

Producer Surplus

The difference between what producers are willing to sell a product for and the actual price they receive, representing profit or gain.

Consumer Surplus

The difference between the total amount that consumers would have been willing to pay for a good or service versus what they actually pay.

Total Surplus

The sum of consumer surplus and producer surplus, measuring the overall welfare benefit to a society from the production and consumption of goods and services.

Domestic Producers

Domestic producers are individuals or companies that produce goods or services within their home country's borders.