The Communication Capabilities of Internet-Enabled Technologies Provide Consumer Convenience,reduce Information

question 72

Multiple Choice

The communication capabilities of Internet-enabled technologies provide consumer convenience,reduce information search costs,and make choice assistance possible.Communication also promotes

• A)consumer responsibility.
• B)closer global alliances.
• C)web communities.
• D)social responsibility.
• E)courteous online dialogue.

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Definitions:

Long-Run

A period in economic theory during which all factors of production and costs are variable, allowing for full adjustment to changes.

Economic Profit

The gap between the total earnings of a business and all its costs, encompassing out-of-pocket and opportunity costs.

Perfect Competitor

A Perfect Competitor refers to a hypothetical firm in a perfectly competitive market that cannot influence the market price and must accept it as given.

Short Run

A period in economics during which some factors, like capital, are fixed and cannot be changed, emphasizing immediate effects.