List and Describe Advantages of the Database Approach

question 71

Essay

List and describe advantages of the database approach.

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Definitions:

Technology

The application of scientific knowledge for practical purposes, especially in industry and in the development of innovations.

Labor Productivity

A measure of economic performance that compares the amount of goods and services produced with the hours worked to produce them.

Specializing

The process of focusing effort and resources on a limited number of activities to gain efficiency and expertise.

International Trade

The exchange of goods and services between countries, allowing for greater variety and availability of products, economies of scale, and increased efficiency.