Rick Has Always Used Internet Explorer, but His Place of Employment

question 52

Multiple Choice

Rick has always used Internet Explorer, but his place of employment requires that everyone use Firefox. His co-worker, Rayna, is reviewing the primary features of Firefox.
-Rayna shows Rick how to type the address for a Web page in the ____ bar to open that Web page in the browser.

• A) Site
• B) Location
• C) Place
• D) Search

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Definitions:

Inelastic Demand

A market situation where the demand for a product does not significantly change with a change in price.

Elastic Demand

A market condition where the demand for a product or service significantly changes in response to price changes.

Opportunity Cost

The cost of a missed opportunity; the value of the best alternative forgone.

Direct Price Discrimination

A pricing strategy where a seller charges different prices to different customers for the same product or service, based directly on the willingness to pay.