The Combination of Computer Hardware, Software, Networks and Databases That

question 88

Multiple Choice

The combination of computer hardware, software, networks and databases that allow information to be shared, stored and manipulated is known as:

• A) computer competency.
• B) information technology.
• C) information competency.
• D) intellectual capital.
• E) the electronic office.

---

Definitions:

Long Run

The long run is a period in which all inputs and production technologies can be varied, with no fixed factors of production.

Long-Run

Pertains to a period in which all factors of production and costs are variable, allowing companies to adjust all inputs.

AVC

Average Variable Cost, the total variable cost divided by the number of units produced, reflecting costs that change with output.

Short-Run

A period during which at least one of a firm's inputs is fixed, limiting its ability to adjust to demand changes.