The Term Web 2

question 2

Multiple Choice

The term Web 2.0 has yet to be defined; however, it has been described as consisting of a set of "core characteristics." Which of the following are considered core characteristics?

• A)User-centered design
• B)Web as platform
• C)Collaboration
• D)Power decentralization
• E)Dynamic content
• F)None of the above.

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Definitions:

Monopoly Power

The ability of a monopolist to significantly control market price and exclude competitors by owning a majority of the market share.

Demand Function

A mathematical relationship expressing the quantity of an item demanded at various prices.

Marginal Costs

The amount spent to produce a further unit of a good or service.

Deadweight Loss

A loss of economic efficiency that can occur when equilibrium for a good or service is not achieved or is not achievable.