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An Internet-Based Technology That Enables Both Large and Small Businesses

question 16

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An Internet-based technology that enables both large and small businesses and organizations to utilize computer applications without having to have their own hardware,software,office computing space,and staff is called:


Definitions:

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a given price level at a specific time.

Supply Curve

A graphical representation showing the relationship between the price of a good and the quantity of the good that suppliers are willing to offer for sale, holding other factors constant.

Equilibrium Price

The market price at which the supply of an item equals the quantity demanded.

Equilibrium Quantity

The volume of goods or services that are both presented and required at the price where supply meets demand in a market.

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