Data That Has Been Manipulated to Make It Meaningful and Useful

question 89

Multiple Choice

Data that has been manipulated to make it meaningful and useful is called ________.

• A)information
• B)a fact
• C)a field
• D)content

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Definitions:

Total Supply

The total amount of a product or service available for purchase at any given price point.

Henry George

A 19th-century economist known for his belief that people should own the value they produce but that land and natural resources should belong to the community.

Economic Rent

Extra income generated because of ownership of a scarce resource or possession of a unique skill or capability.

Zero Price Elasticity

A situation where the demand for a good or service remains unchanged regardless of changes in its price.