Apps That Are Offered at No Cost for Basic Features

question 49

True/False

Apps that are offered at no cost for basic features but allow in-app purchases for premium features and functionality are call freemium apps.

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Definitions:

Elastic Supply

A condition where the quantity supplied of a good changes significantly due to a slight change in its price.

Subsidy

A financial aid or support extended by the government to an economic sector, business, or individual, often aimed at promoting economic and social policies.

Elasticity of Demand

An analysis of consumer demand's elasticity in relation to the pricing of a commodity.

Subsidy

Financial support extended by the government to an economic sector (or institution, business, or individual) with the aim of promoting economic and social policy.