One of the New Developments in Retailing Is M-Commerce

question 84

Multiple Choice

One of the new developments in retailing is m-commerce.What does m-commerce refer to?

• A) the ability to motivate consumers to buy more by creating more feedback channels
• B) the ability to use unique communication techniques to send advertising messages
• C) the ability to more efficiently manage customer demand with inventory
• D) the ability to shop using wireless mobile devices

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Definitions:

Quantity Supplied

The amount of a good or service that producers are willing and able to sell at a given price over a specific period of time.

Equilibrium Price

The Equilibrium Price is the market price at which the quantity of goods supplied is equal to the quantity of goods demanded.

Market Price

The current value at which an asset or service can be bought or sold in the open market.

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a specific price, at a given time.