How Did Online Markets Affect the Dynamics Between Buyers and Suppliers

question 42

Multiple Choice

How did online markets affect the dynamics between buyers and suppliers?

• A)It decreased the threat of new entrants in many industries.
• B)It reduced the network effects of many products.
• C)It increased the costs of switching.
• D)It granted more power to the buyers.

Understand the role of world price in determining whether a country will import or export a good.

Analyze the impact of tariffs on the quantity of goods imported or exported.

Understand the effects of tariffs and import quotas on domestic markets, including impacts on consumer surplus, producer surplus, and total surplus.

Analyze the impact of trade (both free and restricted) on domestic producers and consumers.

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Definitions:

Acylation

A chemical process that introduces an acyl group into a compound, often used in organic syntheses to modify molecules.

Amine

An organic compound derived from ammonia (NH3) by replacement of one or more hydrogen atoms by alkyl or aryl groups.

Sodium Methoxide

A chemical compound used as a strong base in organic synthesis, often for the deprotonation of weak acids.

Chloropyridine

Refers to pyridine molecules substituted with one or more chlorine atoms, used as intermediates in the synthesis of pesticides and drugs.