The Web Site for This Textbook Can Be Viewed Simultaneously

question 132

Multiple Choice

The Web site for this textbook can be viewed simultaneously by thousands of students around the world without paying money to view it.Does this suggest that the concept of scarcity does not apply to Web sites?

• A) No,because each of the students incurs an opportunity cost,measured by the next best alternative to viewing the Web site.
• B) Yes,because an additional student viewing the Web site does not prevent another student from viewing it.
• C) Yes,because the students do not have to pay money to view the Web site and thus they do not have to forgo something else to view it.
• D) No,because the more students who view it,the slower the transmission of the information to each of the students.
• E) Yes,because the technology of the internet has made the principles of economics outdated.

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Definitions:

Introspection

Self-scrutiny of one's mental and emotional processes.

Laboratory Methods

Techniques and procedures used in the controlled settings of a lab to investigate phenomena, conduct experiments, and perform research across various scientific disciplines.

John Watson

A pioneering psychologist best known for his work in establishing the behaviorist school of psychology.

Theory

A coherent group of propositions formulated to explain a group of facts or phenomena, often serving as the basis for further experimentation.