What Is a Management Information System

question 51

Multiple Choice

What is a management information system?

• A) A system that supports managers by providing daily reports, schedules, plans, and budgets that can be used for making decisions
• B) An easy-access application of an information system designed for instant access by upper-level managers
• C) An information processing application for use in business activities involving well-defined processing steps
• D) An interactive system that locates and presents information needed to support the decision-making process
• E) A repository of information resources related to the collection of data

Understand the societal impacts and legal challenges of Prohibition during the 1920s.

Understand how technological improvements and wage changes affect the firm's use of capital and labor.

Understand the concepts of elastic and inelastic demand for resources, and how the presence of substitutes affects this elasticity.

Learn the effects of wage changes on the quantity of labor demanded and the elasticity of labor demand.

---

Definitions:

National Labor Relations Act

A foundational statute of US labor law which protects the rights of employees and employers, encourages collective bargaining, and curtails certain private sector labor and management practices.

Supreme Court

The highest federal court in the United States, which has the ultimate appellate jurisdiction over all federal and state court cases that involve a point of federal law.

Railroad Industry

Comprises companies and organizations involved in the operation of railroads for the transportation of goods and passengers.

Legislation

Laws and statutes passed by a legislative body to regulate, authorize, proscribe, or provide frameworks for dealing with specific issues.