The Adoption of Digital Technologies Has Introduced Drastic Changes into the Business

question 81

Multiple Choice

The adoption of digital technologies has introduced drastic changes into the business environment, including which of the following?

• A) Customers are forced to deal with distribution outlets and middlemen in order to obtain goods.
• B) The exchange between marketers and customers is less interactive than in the past.
• C) Consumers face more barriers to accessing information.
• D) Marketers can offer more products and services than ever before.
• E) Market research has become significantly more difficult.

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Definitions:

Producer Surplus

The difference between the amount that producers are willing to accept for a good or service and the actual amount they receive in the market.

Externality

A cost or benefit from production or consumption that accrues to someone other than the immediate buyers and sellers of the product being produced or consumed (see negative externality and positive externality).

Third Party

An individual or group besides the two primarily involved in a transaction or legal matter, sometimes involved as an intermediary or independent party.

Transaction

An exchange or transfer of goods, services, or funds between two or more parties.