Shopping on the Internet Provides Which Important Time-Related Dimension(s)

question 40

Multiple Choice

Shopping on the Internet provides which important time-related dimension(s) ?

• A) It has the potential to reduce the amount of time required to make a specific purchase.
• B) It provides the consumer with almost total control over when the purchase is made.
• C) It eliminates the uneasiness of crowding experienced in many retail outlets.
• D) A and B
• E) A, B, and C

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Definitions:

Price

The sum of money needed to buy a product, service, or property.

Demand Curve

The demand curve is a graphical representation showing the relationship between the quantity of a good consumers are willing and able to purchase and its price.

Marginal Revenue

The additional income that is generated by selling one more unit of a good or service.

Competitive Market

A market in which there are many buyers and sellers, so that each has a negligible impact on the market price.