An E-Commerce Web Site That Processes Orders Requires, at Minimum

question 1

Multiple Choice

An e-commerce Web site that processes orders requires, at minimum, a ________ system architecture.

• A) single-tier
• B) two-tier
• C) three-tier
• D) multi-tier

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Definitions:

Price Ceiling

A government-imposed limit on how high a price can be charged on a product or service, intended to protect consumers from prices that are deemed too high.

Shortage/Surplus

A shortage occurs when the demand for a good exceeds its supply at a particular price, while a surplus occurs when the supply of a good exceeds demand at a particular price.

Demand Equation

A mathematical expression that calculates the quantity of a good or service demanded at various prices.

Supply Equation

A mathematical representation that describes the relationship between the price of a good and the quantity of the good that suppliers are willing to sell.