In Designing a Management Information System (MIS), the First Task

question 32

Multiple Choice

In designing a management information system (MIS) , the first task is to _____.

• A)clearly define the system's objectives
• B)collect data
• C)analyze data
• D)provided information in a useful format

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Definitions:

Substitution Effect

The change in consumption patterns due to a change in relative prices, causing consumers to substitute away from more expensive items towards cheaper ones.

Employment

Refers to the condition of having paid work or the relationship between an employer and an employee where the employee provides labor in exchange for compensation.

Capital

Financial assets or the financial value of assets, such as cash and goods used to generate income or wealth.

Rent

Payment made, typically on a monthly basis, for the use of someone else's property or land.