A Many-To-Many Relationship That Associates Certain Items with Their Component

question 7

Multiple Choice

A many-to-many relationship that associates certain items with their component items is called a:

• A)binary structure
• B)bill-of-materials structure
• C)binary relationship
• D)ternary relationship

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Definitions:

Demand Curve

A graph showing the relationship between the price of a good and the quantity of the good that consumers are willing and able to purchase at various prices.

Consumer Surplus

The gap in finances between the consumers' ability and willingness to pay versus the real payment for a good or service.

Graphing Calculator

An electronic device capable of plotting graphs, solving simultaneous equations, and performing other tasks with variables.

Consumer Surplus

Consumer surplus is the difference between the total amount that consumers are willing to pay for a good or service and the total amount they actually pay, indicating the benefit consumers receive from purchasing at a market price lower than their maximum willingness to pay.