Which of the Following Is the Best Assessment of the Impact

question 60

Multiple Choice

Which of the following is the best assessment of the impact extranets have had on the way small businesses operate?

• A) As yet, extranet technology has had little impact on small businesses, because the technology is too new and expensive.
• B) The development of extranets has put small firms at a serious competitive disadvantage, because suppliers and customers are more willing to participate in extranets set up by larger organizations.
• C) The use of extranets enables small firms to share and process data in ways that had been available in the past only to large firms that could afford electronic data interchange technology.
• D) The extranet has made it easier for small firms to offer their goods and services to the general public because of the increased bandwidth this technology provides.

Understand the role of income elasticity of demand in consumer behavior.

Recognize how personal preferences and income influence utility and purchase decisions.

Calculate the effects of market changes on demand using elasticity equations.

Interpret the implications of demand functions on market revenue.

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Definitions:

Eyewitness

A person who directly observes an event and can provide a firsthand account of it, often used as evidence in legal proceedings.

Lay Witness

An individual who provides testimony in a legal proceeding about what they observed or experienced directly, not requiring specialized knowledge or expertise.

Nonattorney Status

The classification of an individual who is not licensed to practice law or deliver legal advice.

Initial Client Interview

The first meeting between a client and a professional (usually a lawyer) to discuss the client’s issue, objectives, and possible representation.