China Implemented E-Commerce to __________

question 33

Multiple Choice

China implemented e-commerce to __________.

• A)increase options for consumers
• B)lower prices of goods on the street
• C)offer fresh, traditionally grown produce
• D)overcome obstacles associated with traffic jams in major cities

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Definitions:

Output

Refers to the quantity of goods or services produced in a given time period by a firm or economy.

Short-Run Supply Curve

A graphical representation showing the relationship between the price of a good and the quantity supplied by producers in the short term, under fixed resources and technologies.

Break-Even Point

The low point on the firm’s average total cost curve. If the price is below this point, the firm will go out of business in the long run.

Shutdown Point

The level of operation at which a business or economic activity is no longer profitable and should cease operations for financial reasons.