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Data Models Are Logical Data Structures That Detail the Relationships

question 168

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Data models are logical data structures that detail the relationships among data elements by using graphics or pictures.


Definitions:

Quantity Supplied

The total amount of a specific good or service that is available for purchase at a given price and time.

Product Shortage

A situation where the demand for a product exceeds the supply available in the market.

Quantity Demanded

The total amount of a good that consumers are willing and able to purchase at a given price in a specified period.

Quantity Supplied

The complete quantity of a product or service that suppliers are prepared to offer for sale at an established price during a defined timeframe.

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