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A Default Value Is a Value Automatically Entered into a Field

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A default value is a value automatically entered into a field when a new record is created.


Definitions:

Encoding

The process of converting information or data into a specific format for efficient processing, storage, or transmission.

Decoding

The process of interpreting or making sense of a message or information received.

General Equilibrium

The condition that exists when all markets in an economy are in simultaneous equilibrium.

Economic System

The organized way in which a country allocates resources and distributes goods and services in its society.

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