Data,information,and Intelligence All Have the Potential to Create Value to a Firm

question 65

True/False

Data,information,and intelligence all have the potential to create value to a firm through better decision making.

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Definitions:

Equilibrium Price

The point where the volume of goods being offered equals the volume of goods being sought in terms of price.

Demand

The amount of a product or service that buyers are ready and capable of buying at different price levels over a specific time.

Supply

The aggregate supply of a service or good ready for consumer purchase.

Demand Curve

A graph showing the relationship between the price of a good and the quantity of the good that consumers are willing and able to purchase at various prices.