Refer to IT's About Business 3

question 29

Multiple Choice

Refer to IT's About Business 3.3 - Your Privacy on Facebook: Which of the following is false about Facebook's privacy polices?

• A) Facebook puts the responsibility of privacy in the hands of the user.
• B) Facebook as an "off switch" that lets users block all access to their information from third-party applications and Web sites.
• C) Facebook's CEO feels that privacy is no longer a social norm.
• D) Facebook created new "buckets" that could be designated to groups of people.
• E) Facebook uses an Opt-in model.

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Definitions:

Income Elasticity

A gauge of the extent to which the consumption of a good or service is affected by alterations in the income levels of consumers.

Inferior Good

A type of good for which demand decreases when consumer income rises, contrary to normal goods where demand increases with rising income.

Excise Tax

A specific tax levied on particular goods or services at the point of manufacture or sale, often included in the price of the product.

Supply Curve

A graphical representation of the relationship between the price of a good or service and the quantity of it that producers are willing to supply.