A _____________ Is a Digital Media File That Is Distributed

question 33

Short Answer

A _____________ is a digital media file that is distributed over the Internet and downloaded on portable media players and personal computers.

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Definitions:

Perfect Substitutes

Perfect substitutes are two goods that can be used in place of each other with no loss of utility or preference by consumers.

Income Effect

Refers to the change in an individual's or economy's purchase of goods and services resulting from changes in income levels.

Substitution Effect

The change in consumption patterns due to a change in relative prices, holding the consumer's level of utility constant.

Price

The fiscal amount needed for the acquisition of a product or service.