Based on Your Reading of the Chapter, E-Commerce Is

question 28

Multiple Choice

Based on your reading of the chapter, e-commerce is

• A) still in a revolutionary phase.
• B) widely accepted by consumers, although technology is still quickly changing.
• C) not yet fully accepted by consumers, although much of its driving technology is firmly in place.
• D) well entrenched as a form of modern commerce.

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Definitions:

Marginal Revenue

The additional income generated from the sale of one more unit of a good or service.

Total Revenue

The total amount of money received by a company from sales of goods or services, before any expenses are subtracted.

Negative Economic Profits

A situation where a firm's total revenues are less than the total costs, including both explicit and implicit costs, leading to losses.

Accounting Profit

The total revenue of a business minus the explicit costs, representing the financial gain shown in the income statement.