One of the Differences Between the Internet and Traditional Media

question 50

Multiple Choice

One of the differences between the Internet and traditional media is that:

• A) traditional media content has been delivered through a distributed network.
• B) in traditional media, space is not a limited resource.
• C) the consumers using the Internet consume content in an appointment viewing mode.
• D) internet audiences are typically content consumers.
• E) the Internet, from its beginnings, has been interactive.

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Definitions:

Competitive Equilibrium Price

The market price where the quantity of goods supplied is equal to the quantity of goods demanded, effectively clearing the market.

Utility Function

A mathematical representation of how different quantities of goods or services are ranked according to their desirability for a consumer.

Initial Endowment

The initial distribution of income, wealth, or resources that individuals or organizations possess before entering into any market transactions.

Numeraire

A unit of account in which prices are expressed in an economic model, facilitating comparison and calculation.