Psychologists Study Information Systems with an Eye to Understanding

question 19

Multiple Choice

Psychologists study information systems with an eye to understanding:

• A)how systems affect individuals,groups,and organizations.
• B)how human decision makers perceive and use formal information.
• C)how new information systems change the control and cost structures within the firm.
• D)the production of digital goods.
• E)mathematically based models and physical technology.

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Definitions:

Heckscher-Ohlin Theory

An economic theory that suggests countries export what they can most efficiently and abundantly produce, based on factors of production like land, labor, and capital.

Absolute Advantage

The ability of a country, individual, company or region to produce a good or service at a lower cost per unit than the cost at which any other entity produces that good or service.

Comparative Advantage

The skill of an entity, whether a person, corporation, or country, to create a product or service with smaller opportunity costs than its competition.

Absolute Advantage

Absolute advantage is the ability of a country or entity to produce a good or service more efficiently than others, using fewer resources.