An Application for the IPhone That Includes Voice Directions for a Built-In

question 333

Multiple Choice

An application for the iPhone that includes voice directions for a built-in GPS system can be helpful in finding a motel that is "off the beaten track". What is the primary economic need being satisfied by this app?

• A) Economy of purchase
• B) Dependability in use
• C) Efficiency in use
• D) Convenience

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Definitions:

New Products

Items that have been recently introduced to the market, offering innovative solutions or improvements over existing products.

Interest-Rate Cost-Of-Funds

Represents the interest rate that banks or other financial institutions pay for the funds that they use in their operations, including deposits and loans from other institutions.

Perfectly Elastic

A term used in economics to describe a situation where the quantity demanded or supplied changes infinitely in response to any change in price.

Expected Rates

Anticipated figures or percentages, often pertaining to finance, such as interest rates or returns on investment.