In ________ Commerce, Information Is Equally Distributed, Transaction Costs Are

question 47

Short Answer

In ________ commerce, information is equally distributed, transaction costs are low, prices can be dynamically adjusted to reflect actual demand, intermediaries decline, and unfair competitive advantages are eliminated.

---

Definitions:

Symbolic-Function

Symbolic function is a cognitive development concept whereby children acquire the ability to mentally represent and think about objects and events that are not physically present through symbols or language.

Centration

A cognitive limitation in young children's thinking, where they can only focus on one aspect of a situation at a time.

Conservation

Efforts or strategies aimed at preserving the natural environment, resources, and biodiversity for future generations.

Egocentrism

Piaget’s term for inability to consider another person’s point of view; a characteristic of young children’s thought.