Videoconferencing has evolved as an alternative for business travel. This best illustrates ________.
A)the threat of substitutes in a market
B)the absence of network effects
C)monopolistic competition in markets
D)increased power of the suppliers

Question

Quizplus · Accepted Answer

The use of videoconferencing as an alternative for business travel highlights the threat of substitutes in the market, where the availability of a more convenient and cost-effective option poses a challenge to the demand for traditional means of transportation.

Videoconferencing Has Evolved as an Alternative for Business Travel