MAC Stands for

question 112

Multiple Choice

MAC stands for

• A) maximum access control.
• B) medium access control.
• C) media access controls.
• D) media address Control.
• E) media access Control.

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Definitions:

Arbitrage

The simultaneous buying and selling of assets in different markets to exploit price differences for profit.

Elasticity of Demand

A gauge for the responsiveness of how much a product is wanted relative to fluctuations in its price.

Inelastic Demand

A market situation where the demand for a product does not significantly change with a change in price.

Elastic Demand

A market condition where the demand for a product or service significantly changes in response to price changes.