___________ Refers to Using the Internet to Reassemble Buyers, Sellers

question 19

Short Answer

___________ refers to using the Internet to reassemble buyers, sellers, and other partners in a traditional supply chain in new ways.

---

Definitions:

Utility Function

An economic model representing how a consumer ranks different bundles of goods based on the level of satisfaction or utility they provide.

Demand

The quantity of a good or service that consumers are willing and able to purchase at various prices during a given period.

Income

The amount of money received by an individual or group over a certain period, often derived from work, investments, or business activities.

Utility Function

A mathematical formula that represents a consumer's preference ranking for various bundles of goods.