A Virtual Company

question 15

Multiple Choice

A virtual company

• A) uses the capabilities of other companies without being physically tied to those companies.
• B) uses Internet technology to maintain a virtual storefront.
• C) uses Internet technology to maintain a networked community of users.
• D) provides entirely Internet-driven services, or virtual products.

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Definitions:

Consumer Surplus

The difference between what consumers are willing to pay for a good or service relative to its market price.

Units

A standard measurement for quantity used to quantify material amount or the extent of something.

Good

A physical item that is produced and can be sold or traded to satisfy people's wants or needs.

Service

An intangible activity or benefit provided to satisfy the needs of a consumer or business.