In Terms of the Internet Evolution, Web 3.0

question 198

Multiple Choice

In terms of the internet evolution, Web 3.0:

• A) created static content that included customer involvement.
• B) generated instant communication that helped improve customer service.
• C) created online communities that connected buyers and sellers.
• D) featured brand engagement, social media, and customer-generated reviews.

---

Definitions:

Necessities

Basic needs essential for maintaining life, such as food, water, shelter, and clothing, which take precedence over other types of spending.

Elasticity Coefficient

A measure used to show the responsiveness of the quantity demanded or supplied to a change in one of its determinants, like price or income.

Supply

A schedule or curve that shows the various amounts of a product that producers are willing and able to make available for sale at each of a series of possible prices during a specified period of time.

Elastic

A characteristic of a good or service indicating that its quantity demanded or supplied changes significantly when there is a change in price.