MachineTools

question 116

Multiple Choice

MachineTools.com sells grinders,boring mills,and engine lathes.Its website lists products from over 700 machinery manufacturers,2,500 distributors of new equipment,and 650 dealers of used inventory for sale.MachineTools.com relies on a well-established channel of manufacturers,distributors,and machinery dealers to provide the merchandise that is sold through this

• A)electronic government channel.
• B)virtual marketing channel.
• C)World Wide Web network.
• D)mediated channel.
• E)Internet marketing channel.

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Definitions:

Purely Competitive Industry

A market structure characterized by many small firms producing identical products, with no single firm able to influence market prices.

Long Run

A period of time in economics where all factors of production and costs can be varied, allowing for the adjustment of all inputs.

Corn Market

The trading environment for corn, including its production, distribution, and sale.