Using CASE Tools,UML,and Other Software to Build Working Models of System

question 175

True/False

Using CASE tools,UML,and other software to build working models of system components so that they can be quickly tested and evaluated is known as prototyping.

---

Definitions:

Economic Loss

A situation where total cost exceeds total revenue, resulting in a negative profit for a business.

Average Variable Cost

The total variable costs divided by the quantity of output, indicating the variable cost per unit of output.

Marginal Cost

The hike in production costs when an additional unit of a good or service is manufactured.

Market Price

The existing selling or buying price for a service or asset in a particular trading environment.