Match Each of the Following Terms with the Reason for Why

question 4

Multiple Choice

Match each of the following terms with the reason for why you would
go with that provider.
-When resources and staff are available and system must be built from scratch

• A)IT services firm
• B)Packaged software producers
• C)Enterprise solutions vendors
• D)Cloud computing
• E)Open-source software
• F)In-house developers

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Definitions:

Deadweight Loss

An economic inefficiency caused by a disruption in market equilibrium, leading to a loss of societal welfare.

Consumer Surplus

The disparity between the ideal total expenditure consumers are willing to make on a good or service and the real expenditure.

Producer Surplus

The distinction in financial terms between what producers expect to receive for a product or service and the actual revenue attained.

Producer Surplus

The difference between the amount producers are willing to sell a good for and the actual market price they receive, reflecting the benefit to producers from selling at a higher price.