Which Component Directs the Computer to the Correct Resources to Use

question 73

Multiple Choice

Which component directs the computer to the correct resources to use and how to use them?

• A) an application program
• B) system software
• C) an electronic spreadsheet
• D) a database
• E) management information systems

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Definitions:

Explicit Costs

Direct, out-of-pocket payments for expenses incurred in conducting business, such as rent, salaries, and materials.

Economic Profits

The disparity between the amount a business earns in total and the sum of its outright and inferred expenses.

Explicit Costs

Direct, out-of-pocket payments for goods and services that are used in the production of other goods and services.

Implicit Costs

The opportunity costs of using resources that a firm already owns, not involving direct monetary payment.