With the Traditional File Processing Approach, Each Application Shares Data

question 31

True/False

With the traditional file processing approach, each application shares data files, thus enabling much data sharing.

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Definitions:

Private Ownership

The legal right of individuals or corporations to own property and assets, distinguishing from public or state ownership.

Allocation Mechanism

The process or system used to determine how resources are distributed and goods and services are allocated in an economy.

Incentive Function

A principle or mechanism designed to motivate individuals or entities to act in a desired manner by offering rewards or consequences.

Productive Resource

Any resource used in the creation of goods and services, including land, labor, and capital.