Gal Runs a Music Store

question 50

Multiple Choice

Gal runs a music store. He has a desktop computer in the back room that acts as a server. He has a point-of-sale terminal that connects to the desktop. He also has a notebook (using in-store wireless access to the Internet) that can be carried around the store to look up current items in stock, or to search for items from one of his suppliers for special orders. Which of the following statements is true?

• A)Gal must have a Web site in order to use his notebook.
• B)The notebook is on the same network as the point-of-sale terminal.
• C)Gal must have an ISP in order to access the Internet from his notebook.
• D)The notebook will work only when the desktop computer is turned on.
• E)All of the statements are true.

Recognize different sources of funds for R&D and their implications for R&D decision making.

Determine the conditions under which a firm should expand or reduce its R&D expenditures.

Understand the concept and importance of process innovation in improving production methods and its impact on a firm's total product curve and cost structure.

Grasp how consumer choices between new and existing products are influenced by marginal utility (MU), price (P), and the marginal utility-to-price ratio (MU/P).

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Definitions:

Federal Court

The system of courts at the national level in a country, which deals with legal matters that are under the authority of the federal government.

Common Law

A body of unwritten laws based on legal precedents established by the courts, influencing and governing the decision-making process in novel cases.

State Law

Laws that are established and enforced by the individual U.S. states.

Contract Law

Refers to the body of law that regulates the formation, enforcement, and interpretation of agreements between parties.