WWANs

question 45

Multiple Choice

WWANs

• A) are no bigger than a kilometre across.
• B) are bigger than WLANs but slower.
• C) are run on optical fibre.
• D) use the 10/100/1000 standard.
• E) are bigger than WLANs and use cellular networks.

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Definitions:

Marginal Utility

The additional satisfaction or benefit received from consuming one more unit of a product or service.

Asymmetric Information

One of the parties to a transaction has information relevant to the transaction that the other party does not have.

Adverse Selection

A situation in which asymmetric information results in high-quality goods or high-quality consumers being squeezed out of transactions because they cannot demonstrate the quality of the product they are offering for sale.

Fair Bet

A wager in which the expected value to both parties involved is equal; no side has an advantage.