The Technology for the Internet Is

question 9

Multiple Choice

The technology for the internet is

• A) decentralized.
• B) centralized.
• C) regulated.
• D) linear.
• E) massified.

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Definitions:

Trade

The swapping of goods, services, or both among two or more entities.

Opportunity Cost

The loss incurred from potential opportunities when one choice is made over others.

Absolute Advantage

A condition where a country, entity, or individual can produce a good or service more efficiently than competitors using the same amount of resources.

Comparative Advantage

The ability of an individual, firm, or country to produce a good or service at a lower opportunity cost compared to others.