Match Each of the Following Terms with Its Description

question 3

Multiple Choice

Match each of the following terms with its description.
-An external entity that interacts with a system.

• A)actor
• B)use case
• C)system boundary
• D)connections
• E)extend relationship
• F)include relationship
• G)use case diagram

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Definitions:

Monopolistic Competition

A market structure characterized by many firms offering differentiated products or services.

Long-Run Equilibrium

A state in which all firms in a market or industry are making normal profits, with no incentive for entry or exit, and all resources are optimally allocated.

Long-Run Equilibrium

A market condition where all inputs can be adjusted, firms are entering and exiting the market, and no economic profits are made, leading to a state of perfect competition.

Monopolistic Competition

An economic setup in which numerous firms offer products that are alike but not the same, enabling competition to revolve around quality, pricing, and promotional strategies.