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Scenario 10.2
Use the following to answer the questions.
Regardless of their age,income,or gender,an increasing number of people are turning to the Internet to search for information,products,people,news,maps,entertainment,and whatever else you can think of.At the forefront of this massive search is Google;accompanying Google are social media sites such as Facebook,Twitter,and Pinterest.Google has developed methods for making information useful to all types of Internet users.Some users want to critique the information,some just want to read the information,and some want to be the information writers.Facebook,originally used as a social networking application,is now picked up by retailers,brands,celebrities,churches,political campaigns,and non-profit agencies who are designing Fan Pages.Twitter is a more real-time site and,as is Pinterest,a more personally-affiliated medium.
-Refer to Scenario 10.2.Political parties are also utilizing social media to connect with voters and to keep individuals informed about the up-to-the-minute activities in the political campaigns.If the politicians wanted to involve the potential voters in the campaign,they could utilize _______,a new trend in video marketing,and create input for their Facebook Fan Pages.
Downward-Sloping
A term used to describe a graph line that decreases in height as it moves from left to right, commonly associated with demand curves in economics, indicating that quantity demanded decreases as price increases.
Demand Curve
A graph depicting the relationship between the price of a good and the quantity of the good that consumers are willing to purchase at that price.
Monopsony
A market situation where there is only one buyer for a product or service, giving the buyer substantial control over the market price.
Collude
The act of cooperating or conspiring, especially in a secretive manner among firms, to limit competition or manipulate market prices.
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