Which of the Following Statements Is True of Social Commerce

question 39

Multiple Choice

Which of the following statements is true of social commerce?

• A)Marketers cannot customize their products as per the needs of specific groups of consumers.
• B)It relies on user-generated content on websites to assist consumers with purchases.
• C)Marketers are often in control of the message, the medium, and the response.
• D)It does not offer consumers the scope to make informed decisions on purchases and services.

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Definitions:

Demand Equation

A mathematical expression that calculates the quantity of a good or service demanded at various prices.

Supply Equation

A mathematical representation that describes the relationship between the price of a good and the quantity of the good that suppliers are willing to sell.

Price Floor

A regulatory measure that sets the lowest legal price for a good or service to prevent market prices from dropping below a specified level, ensuring producers' welfare.

Shortage/Surplus

A shortage occurs when demand exceeds supply, while a surplus happens when supply exceeds demand, both of which can lead to market adjustments.