Which Type of E-Commerce Occurs When a Business Sells Products

question 4

Multiple Choice

Which type of e-commerce occurs when a business sells products and services to customers who are primarily individuals?

• A)B2B
• B)B2C
• C)E-BC
• D)BI

Recognize the characteristics of severable contracts and their interpretation under contract law.

Understand exculpatory clauses and their limitations within contractual agreements.

Explain the concept of substantive and procedural unconscionability and its relevance to contract fairness.

Discern the requirements for professional practice and the implications of operating without a license.

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Definitions:

Demand for Products

Consumers' eagerness and capability to acquire goods and services for certain prices.

Substitution Effect

The change in consumption patterns due to a change in relative prices, leading consumers to substitute one product for another.

Output Effect

The impact on total revenue when a firm alters its production level, influencing the quantity of goods sold and potentially the market price.

Fixed Proportions

A production process in which inputs are used in a constant ratio to each other, with no substitution possible between the inputs.