Which of the Following Explores Business Activities That Have Occurred

question 84

Multiple Choice

Which of the following explores business activities that have occurred or are occurring in the present moment?

• A)Predictive analytics
• B)Prescriptive analytics
• C)Productive analytics
• D)Descriptive analytics

---

Definitions:

Long-run Market Supply

Refers to the total amount of goods that can be produced and made available in the market over a long period, considering all resources are variable.

Wheat Farmers

Individuals or entities engaged in the cultivation of wheat as a crop, playing a vital role in global food supply and commodities markets.

Price Takers

Price Takers are firms or individuals that accept the market price as given, with no influence over it, typically in markets with many sellers and buyers.

Economic Profits

The difference between a firm’s total revenue and its total costs, including both explicit and implicit costs, indicating the financial success beyond breaking even.