In the Context of Technology, Identify a True Statement About

question 80

Multiple Choice

In the context of technology, identify a true statement about collaborative consumption.

• A) The cost of purchasing products or services is borne by one individual.
• B) The ownership of the assets is transferred to the user.
• C) It limits the sharing of goods or services.
• D) It enables people to earn and save money by sharing goods and services.
• E) It is an expensive form of trading.

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Definitions:

Least Possible Cost

The minimum expenditure necessary to achieve a specific outcome or produce a given quantity of a good.

Input Markets

Marketplaces where firms buy resources, goods, and services necessary for producing their own products or services.

Output Markets

Markets where goods and services produced by businesses are sold to households, government entities, and other businesses.

General Equilibrium

A state in which all markets in an economy are in simultaneous equilibrium, taking into account the interactions between different markets.