How Have Late 20ᵗʰ and 21ˢᵗ Century Communications Technologies Directly

question 1

Multiple Choice

How have late 20ᵗʰ and 21ˢᵗ century communications technologies directly created global markets from products and services?

• A)Created paperless communications
• B)Created seamless and instantaneous communications
• C)Decreased coordination for interfirm alliances
• D)Increased worker productivity
• E)Unflattened the world

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Definitions:

Upward-Sloping Supply

A supply curve that shows an increase in the quantity of a good or service supplied as its price rises, reflecting direct relationship between price and quantity supplied.

Elasticity Of Demand

A measure of how much the quantity demanded of a good responds to a change in the price of that good, indicating the sensitivity of consumers to price changes.

Elasticity Of Supply

A measure of how much the quantity supplied of a good responds to a change in the price of that good, quantitatively determined by the percentage change in quantity supplied divided by the percentage change in price.

Tax Revenue

The revenue acquired by governments via tax collection.