The Fact That Millions of Consumers Are Using Online Search

question 97

Multiple Choice

The fact that millions of consumers are using online search engines for comparison shopping has

• A) reduced demand.
• B) made consumers more price sensitive.
• C) reduced the income effect.
• D) reduced price elasticity of demand.
• E) increased the income effect.

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Definitions:

Capital Investment

Funds used by a company to acquire, upgrade, and maintain physical assets such as property, industrial buildings, or equipment.

Mutual Agency

A principle in partnership where each partner has the authority to bind the partnership in contracts and agreements, affecting all partners.

Articles of Partnership

A document that formalizes an agreement between parties to enter into a business partnership, outlining the rights, responsibilities, and capital contributions of each partner.

Profit and Loss Ratio

Typically refers to the profit margin, which measures the efficiency of a company in generating profits from its operations, calculated as net income divided by revenue.