Decision Support Systems Are

question 29

Multiple Choice

Decision support systems are:

• A)computer software systems designed to help managers solve problems by showing how results vary when the manager alters assumptions or datA.
• B)computations and calculations used to review and document human resources decisions and practices.
• C)systems that incorporate the decision rules used by people who are considered to have expertise in a certain area.
• D)the set of topics on which a human resource information system collects and maintains information.
• E)using equipment and information processing to perform activities that had been performed by peoplE.

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Definitions:

Independently Acting Buyers

are consumers who make purchasing decisions based on their own preferences and circumstances, without coordinating with others.

Freedom to Enter

The condition in a market where new firms can enter the industry without facing prohibitive barriers or regulations.

Opportunity Costs

The cost of forgoing the next best alternative when making a decision or choosing between options.

Diminishing Marginal Utility

The principle that as a consumer consumes more of a good or service, the additional satisfaction gained from each additional unit decreases.