Examlex
Which of the following is an example of a validity check?
A. The computer ensures that a numerical amount in a record does not exceed some predetermined amount.
B. As the computer corrects errors and data are successfully resubmitted to the system, the causes of the errors are printed out.
C. After data for a transaction are entered, the computer sends certain data back to the terminal for comparison with data originally sent.
E. The computer flags any transmission for which the control field value did not match that of an existing file record.
Demand Curve
A graphical representation showing the relationship between the price of a good and the quantity demanded at those prices.
Substitution Effect
The shift in buying habits caused by alterations in the comparative costs of products, resulting in consumers substituting higher-priced items with those that are more affordable.
LED Light Bulbs
Energy-efficient lighting devices that use light-emitting diodes to produce light, known for having a longer lifespan and lower energy consumption compared to traditional bulbs.
Marginal Utility Per Dollar
The additional satisfaction gained from spending one more dollar on a good or service.
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