What Is an ISP

question 56

Multiple Choice

What is an ISP?

• A) Instant service provider, a company that provides access to the Internet for a monthly fee.
• B) Internet service provider, a company that provides access to the Internet for a monthly fee.
• C) Internet sales provider, a company that provides access to the Internet for a monthly fee.
• D) Instant sales provider, a company that provides access to the Internet for a monthly fee.

---

Definitions:

Substitution Effect

The change in consumption patterns due to a change in relative prices, leading consumers to substitute one good for another more or less expensive.

Health Care Consumption

The use or utilization of health care services and products by individuals to maintain or improve their health status.

Aggregate Costs

The total costs incurred by an economy or firm from producing a certain level of output, including fixed and variable costs.

Diminishing Marginal Utility

The principle that as a person consumes more of a product, the satisfaction (utility) gained from each additional unit decreases.