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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.
Equilibrium Quantity
The amount of goods or services that are bought and sold at the equilibrium price, where market demand meets market supply.
Consumer Surplus
The discrepancy between the total sum consumers are prepared and able to spend on a good or service and what they ultimately pay.
Equilibrium Price
The market price at which the quantity of goods supplied equals the quantity of goods demanded.
Equilibrium Quantity
The quantity of goods or services supplied that equals the quantity demanded at the market equilibrium price.
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