Fill in the Blanks in Each Statement Below Based on the Flowchart

question 59

Essay

Fill in the blanks in each statement below based on the flowchart design considerations discussed in the text.
A. Flowcharts should be read from _____ and ______.
B. Flowcharts should have plenty of ______.
C. Flowcharts should have a ______.
D. Flowcharts should be organized in columns that depict ______.
E. Documents involved in a business process should have a clear ___ and a clear ___.

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Definitions:

Surplus

The amount by which the quantity of a product supplied exceeds the quantity demanded at a specific price, often leading to a decrease in price.

Shortage

A situation where the demand for a product or service exceeds its supply in a market.

Equilibrium Quantity

Equilibrium Quantity is the quantity of goods or services supplied and demanded at the equilibrium price, where the quantity supplied equals the quantity demanded.

Demand and Supply of Wheat

Refers to the quantity of wheat that consumers are willing to purchase at various prices and the quantity that producers are willing to offer for sale, which together determine the market price of wheat.