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What Is Data Mining? Describe the Two Kinds of Data

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What is data mining? Describe the two kinds of data mining. How can data mining be used to invade the privacy of individuals, given the large amount of data that is collected and stored electronically on people in their everyday transactions?


Definitions:

Equilibrium Market Wage

The wage rate at which the quantity of labor supplied equals the quantity of labor demanded in the market, leading to no excess supply or demand.

Bricklayers

Skilled tradespeople who lay bricks, blocks, and other types of building materials to construct or repair walls, partitions, and other structures.

Masonry Firm

A business that specializes in the construction and repair of structures made from brick, stone, and similar materials.

Price

The financial sum needed for the purchase of a product or service.

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