Web Services

question 73

Multiple Choice

Web services:

• A) are a set of services available to all on the Web.
• B) are a set of emerging standards for protocols for automatic communication between software over the Web.
• C) are a set of standards based upon HTML.
• D) are still conceptual and yet to be created.

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Definitions:

Marginal Revenue

The extra revenue earned by selling an additional unit of a product or service.

Price-taker Model

An economic model describing a company or entity that must accept the prevailing prices in the market of its products because it does not have the market power to change them.

Marginal Costs

The additional cost incurred to produce one more unit of a good or service.

Competitive Market

A market structure characterized by a large number of sellers and buyers, where no single entity has the power to significantly influence prices or market conditions.