Which of the Following Is a False Statement About Transaction

question 65

Multiple Choice

Which of the following is a false statement about transaction processing systems?

• A)Transaction processing systems contain input, transformation, and output elements.
• B)Data processing software transforms information into data for the firm's management.
• C)Data is gathered from throughout the physical system.
• D)Transaction processing systems process data that reflect the activities of the firm.

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Definitions:

Constant Returns to Scale

A situation in production where increasing all inputs by a certain proportion results in output increasing by the same proportion.

Price-taker Industry

Industries where firms have no control over the market price and must accept the prevailing prices as given.

Short-run Market Supply

The total quantity of goods or services that producers are willing and able to sell at a given price in the market over a short period.

MC Curves

A graphical representation of how the marginal cost of producing one additional unit of a good varies with the quantity produced.