All of the Following Are Limitations of Traditional Payment Methods

question 46

Multiple Choice

All of the following are limitations of traditional payment methods in electronic commerce except:

• A) Cash cannot be used because there is no face-to-face contact.
• B) Paying for goods and services via the mail takes more time.
• C) Not all organizations accept credit cards.
• D) It is more secure for the buyer to use the telephone than to complete a secure transaction on a computer.
• E) None of the above

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Definitions:

Quantity Demanded

The total amount of goods or services that consumers are willing and able to buy at a specific price level, at a given point in time.

Normal Good

A type of good for which demand increases as the income of consumers increases, and vice versa.

Supply Schedule

A table of numbers showing the amounts of a good or service producers are willing and able to make available for sale at each of a series of possible prices during a specified period of time.

Price-Elasticity

A measure of how the quantity demanded or supplied of a good changes in response to a change in its price.