_______ is the general term for a buying and selling process that is supported by electronic means?
Correct answer: D. Electronic commerce
- A. Internet commerce
- B. Web commerce
- C. Computer commerce
- D. Electronic commerce
Explanation
Electronic commerce is the broad term for buying and selling supported by electronic networks and technologies, including websites, online marketplaces, and electronic payment systems. The other terms are narrower or nonstandard labels.
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Individual consumers, firms and markets are examined through demand and supply, elasticity, consumer choice, production, costs, revenue and the determination of prices and output. The topic also covers market structures such as perfect competition, monopoly and oligopoly, plus market failure, externalities and the distinction between microeconomic decisions and economy-wide outcomes.
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