Match Each Item with the Correct Statement Below

question 13

Multiple Choice

Match each item with the correct statement below.
-Uses multiple channels of data

• A)Baseband system
• B)MANs
• C)LANs
• D)Broadband system
• E)WANs

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Definitions:

Production

The process of combining various material inputs and immaterial inputs (plans, know-how) in order to make something for consumption (the output).

Producer Surplus

The difference between what producers are willing to accept for a good or service versus what they actually receive in the market.

Consumer Surplus

The gap between the price consumers are ready to offer for a good or service and the effective amount they spend on it.

Trade

The process of purchasing, vending, or trading products and services among individuals or nations.