Upon Which of the Following Industries Has the Internet as a Whole

question 33

Multiple Choice

Upon which of the following industries has the Internet as a whole been a disruptive technology?

• A) bill payments
• B) air travel
• C) books
• D) real estate

Grasp the basics of supply, demand, and price elasticity.

Understand the impact of substitute goods on market demand.

Explain consumer surplus and producer surplus in a market transaction.

Recognize the role of competitive markets and the principle of the invisible hand in promoting efficient resource use.

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Definitions:

Off-peak Pricing

A pricing strategy that offers discounts during times of lower demand to encourage usage or purchases.

People-based Services

Services that are heavily reliant on human interaction and expertise, as opposed to being automated or provided by machines.

Nonprofit Organizations

Organizations that operate for charitable, educational, cultural, or social welfare purposes, using surplus revenues to further achieve their goals rather than distributing them as profit or dividends.

Revenue Over Expenses

A financial metric indicating profitability, where income surpasses the costs incurred in generating it.