Provide an Example of a Business Transaction You Recently Conducted

question 61

Essay

Provide an example of a business transaction you recently conducted that took place with the help of the cloud. Describe the front and back office activities that would have been required to conduct the same business transaction in a pre-cloud business world.

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Definitions:

Normal Good

A good for which demand increases as the income of the consumer increases.

Aggregate Demand

The total demand for all goods and services within a specific economy at a given overall price level and in a given time period.

Income Distribution

Refers to the way total personal income is distributed among individuals or households in an economy, affecting economic inequality.

Reservation Price Model

A model that defines the maximum price a consumer is willing to pay for a good or service.