Which of the Following Statements Regarding When and Where Online

question 57

Multiple Choice

Which of the following statements regarding when and where online consumers shop and buy is most accurate?

• A)Twenty percent of online sales occur Monday through Friday.
• B)The busiest online shopping day is Wednesday.
• C)Favorite websites for workday shopping and buying include those featuring health and beauty items,and apparel and accessories.
• D)Just 10 percent of consumers say they visit websites from work.
• E)Most people buy online when they are sad or depressed.

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Definitions:

Opportunity Costs

Opportunity costs represent the benefits a person or business misses out on when choosing one alternative over another.

Implicit Costs

The opportunity costs of using resources that a firm already owns, representing the income the firm foregoes by using those resources internally rather than renting or selling them.

Explicit Costs

Explicit costs are direct, out-of-pocket payments for resources or services needed for production, such as wages, rent, and materials; they're easily quantifiable and recorded.

Explicit Costs

Direct, out-of-pocket expenses incurred in conducting a business activity or making a decision.