The Increasing Number of Social Networks on the Internet Is

question 64

Multiple Choice

The increasing number of social networks on the Internet is attributed to a jump in the number of people who are wanting to connect with one another online. The increasing number of social networks is an important ________ trend.

• A) political
• B) economic
• C) legal
• D) social
• E) demographic

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Definitions:

Competitive Industry

An industry where numerous sellers offer products or services that are similar, ensuring no single entity has significant market power to determine prices.

Covert Collusion

An implicit secret agreement between parties to fix prices, divide markets, or rig bids without explicit verbal agreement, making it hard to detect and prosecute.

Cartel

An association of independent businesses organized to control prices and production, restrict competition, and monopolize markets.

Price Leadership

A situation where the largest or most dominant company in an industry sets prices that other companies then follow.