___________ Refers to the Collection of Large Amounts of Near-Real-Time

question 25

Multiple Choice

___________ refers to the collection of large amounts of near-real-time data collected through a variety of sources such as sensors and smart phones.

• A)Cloud computing
• B)Big data
• C)Data warehousing
• D)Decision support systems

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Definitions:

Elastic Supply

A situation where the quantity supplied of a good changes significantly as the price changes.

Tax Burden

The total amount of tax that individuals, businesses, or other entities must pay to authorities, often expressed as a percentage of income or revenue.

Inelastic Demand

A situation where the demand for a good or service is not significantly changed by changes in price.

Elastic Supply

A situation where the quantity supplied of a good or service changes significantly in response to changes in price, indicating flexibility in the production process.