Practitioners Recognized the Need to Differentiate Businesses Before and After

question 191

Essay

Practitioners recognized the need to differentiate businesses before and after the Internet became an integral part of marketing. They have coined the term "pure-play online competitors" to
describe businesses that uses the Internet in their day-to-operation. List three ways that a pure play online business differs from the more traditional, pre-Internet business.

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Definitions:

Equitable

Characterized by fairness and impartiality; the fair distribution of resources and opportunities.

Efficient

Describes a process that achieves its goals with the least waste of time and effort.

Lump-Sum Tax

A tax that is the same amount for every person.

Deadweight Loss

A cost to society created by market inefficiency, which occurs when supply and demand are out of equilibrium.