Which of the Following Was the Original "Killer App" That

question 19

Multiple Choice

Which of the following was the original "killer app" that made the Internet commercially interesting and extraordinarily popular?

• A)e-commerce
• B)The World Wide Web
• C)social networks
• D)mobile apps

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Definitions:

Perfectly Elastic

Describes a situation where the quantity demanded or supplied of a product responds infinitely to even the smallest change in price.

Inelastic

Refers to a situation where the demand or supply of a good or service is relatively unresponsive to changes in price.

Price Effect

The impact on consumer demand and supply of goods caused by changes in the price of a product or service.

Quantity Effect

The impact on the total quantity bought or sold in a market as a result of changes in price.