An Important Advantage Knowledge Technology Has Over Older Versions of Business

question 84

Multiple Choice

An important advantage knowledge technology has over older versions of business technology is that it

• A) delivers timely information directly to the people who need it.
• B) is much cheaper to incorporate into most business operations.
• C) allows businesses to locate anywhere and still reach their customers.
• D) eliminates the need for businesses to store information electronically.

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Definitions:

Demand Conditions

Factors that affect consumer desire for a product or service, including income levels, tastes, and price of substitutes.

Cost Conditions

The various expenses that firms face related to the production and sale of goods or services, including raw materials, labor, and overhead costs.

Maximum Profit

The highest possible financial gain that a business can achieve from its operations.

Per Month

A time period measurement, indicating the recurrence or calculation of a particular action or data on a monthly basis.