One of the Most Important Developments in the Internet Age

question 61

Multiple Choice

One of the most important developments in the Internet age has been the rise of ______ media like Facebook.

• A)broadband
• B)social
• C)self-published
• D)citizen-created

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Definitions:

Economics

The social science that studies the production, distribution, and consumption of goods and services.

Microeconomics

The branch of economics that focuses on the actions of individuals and industries, like the dynamics between buyers and sellers, and the factors that influence the choices of individuals and businesses.

Private Enterprise System

An economic system where private individuals or businesses own capital goods and operate with minimal government intervention.

Equilibrium Price

The market price at which the quantity of goods supplied equals the quantity of goods demanded, resulting in a stable market condition.