What Is the Ability to Purchase Goods and Services Through

question 137

Multiple Choice

What is the ability to purchase goods and services through a wireless Internet-enabled device?

• A) Ecommerce
• B) Mobile business
• C) Meconomics
• D) Ebusiness model

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Definitions:

Price Discrimination

A pricing strategy where a company charges different prices to different groups of customers for the same product or service, based on factors other than production costs.

Producer Surplus

The difference between the amount producers are willing to accept for a good or service and the actual amount they receive in the market.

Price Discrimination

The strategy of selling the same product at different prices to different groups of consumers, based on their willingness or ability to pay.

Perfect Competition

A market structure where many companies sell products that are identical to each other and no single firm can influence the market price.