In What Way Has the Internet Made Cost Competitiveness a More

question 36

Multiple Choice

In what way has the Internet made cost competitiveness a more important consideration for businesses?

• A)Retailers have more shipping options than before.
• B)Advertising has become less effective because of online ads.
• C)Consumers have more information about production processes.
• D)Producers have more information about what competitors are doing.
• E)Consumers can more easily compare prices online.

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Definitions:

Circular-Flow Diagram

A visual model of the economy that shows how dollars flow through markets among households and firms, symbolizing the interactions between different sectors of the economy.

Sector

A distinct part or area of the economy or a market, characterized by a specific subset of activities or goods.

Market

A place or system where buyers and sellers interact to trade goods, services, or resources.

Factor Market

A marketplace for the services of a factor of production (such as labor, capital, or land), where these services are bought and sold.