Enterprises Use Real-Time Data from Tweets and Sensors to Gain

question 76

True/False

Enterprises use real-time data from tweets and sensors to gain insight into their customers' interests and preference.

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Definitions:

Equilibrium Quantity

The quantity of goods or services that is supplied and demanded at the equilibrium price in a market.

Car Market

The industry related to the manufacturing, selling, and buying of automobiles.

Allocative Efficiency

A state of the economy in which production represents consumer preferences; every good or service is distributed to yield the highest aggregate utility.

Willingness To Pay

The maximum amount a consumer is prepared to spend to acquire a good or service.