Which of the Following Statements Is True of the Term

question 30

Multiple Choice

Which of the following statements is true of the term "cloud"?

• A) It refers to a collection of computing resources available for access over the Internet.
• B) It refers to the phenomenon of adapting products and services for different languages and regional differences.
• C) It refers to a situation when the value of a product or service increases as the number of its users expands.
• D) It refers to a situation when others take advantage of a user or a service without providing any sort of reciprocal benefit.
• E) It refers to a closed network or a single set of services controlled by one dominant firm.

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Definitions:

Incremental Revenue

The additional income received from selling one more unit of a product or service.

Marginal Revenue

The additional income received from selling one more unit of a good or service; it is a critical concept in deciding the optimal quantity of goods to produce.

Price Discrimination

The practice of charging different prices to different consumers for the same product or service, based on their willingness to pay.

Insurance Rates

Insurance rates are the costs charged by insurance companies to provide coverage against various risks, determined by factors such as risk level, policy type, and coverage amount.