The Five Phases of the Records and Information Life Cycle

question 39

Multiple Choice

The five phases of the records and information life cycle are

• A)creation, internal use, decisions, filing and retrieval, and disposition.
• B)creation, distribution, use, maintenance, and disposition.
• C)creation, reference, protection, transfer, and distribution.
• D)use, maintenance, receipt of a record, destruction, and transfer.

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Definitions:

Elastic

Describes a situation where the demand or supply for a good or service significantly changes in response to a change in price.

Unit Elastic

A demand or supply situation where a percentage change in price leads to an equal percentage change in quantity demanded or supplied.

Elasticity of Demand for Cookies

A measure of how much the quantity demanded of cookies changes in response to a change in price.

Elasticity of Demand

A metric that assesses the sensitivity of the demand for a good to shifts in its price level.