A Group Buy Is a Social Commerce Application That

question 67

Multiple Choice

A group buy is a social commerce application that:

• A) enables the shopper to show products by most viewed, most favorite, or most commented.
• B) publishes customer testimonials.
• C) is dedicated to a group of people who meet online to communicate about products and help each other solve related problems.
• D) is a collection of special offers, sometimes maintained and updated by user submissions.
• E) provides an opportunity for people to join together to qualify for volume discounts.

---

Definitions:

Returns To Scale

Describes how output changes in response to a proportional change in all inputs in the production process.

Production Function

A production function describes the relationship between inputs used in production and the resulting output, showing how the quantity of output depends on the quantities of different inputs.

Input

Resources used in the production process, including labor, materials, and capital, to produce goods or services.

Technical Rate

The rate at which technological improvement increases production efficiency, often measured as a percentage increase in output per unit of input.