Big Data Can Include Unstructured Data Such as Writings and Photographs

question 93

True/False

Big data can include unstructured data such as writings and photographs.

---

Definitions:

Comparative Advantage

The ability of an individual, firm, or country to produce a certain good at a lower opportunity cost than its trading partners.

Total Output

Total output refers to the total value of all goods and services produced in an economy over a specific period.

Specialization

The process by which individuals or entities focus on producing a single or a few products or services, leading to increased efficiency and productivity in the economy.

Opportunity Cost

The economic consequence of overlooking the following preferred choice in making a decision.