EBay's Customers Enrich the Website by Reviewing Products That They

question 89

Multiple Choice

eBay's customers enrich the website by reviewing products that they purchase. These reviews are used by buyers to evaluate the sellers on eBay. eBay also provides special privileges to sellers who have higher ratings. This is an example of ________.

• A)reverse engineering
• B)value chain extension
• C)focused strategy
• D)niche marketing

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Definitions:

Limited Resources

Refers to the finite amount of resources available for production of goods and services, including labor, capital, and natural resources.

Market Supply Curve

A graphical representation showing the relationship between the price of a good and the total output of that good supplied by all producers in the market.

Identical Firms

Refers to companies within the same industry that have similar methods of production, costs, and characteristics, making their products essentially indistinguishable.

Linear Marginal Cost

A situation where the cost of producing one additional unit of a product or service remains constant, represented graphically as a straight line.