Case-Based Critical Thinking Questions Case 2-1

question 68

Multiple Choice

Case-Based Critical Thinking Questions Case 2-1
Akae plans to develop a database for his small DJ business that will include his music catalog, artists, clients, purchases, equipment, and vendors. Akae has identified that the following information will be included in the database:
∙ artist
∙ song and year
∙ client name
∙ client address
∙ client contact information
∙ vendor
∙ purchases
∙ equipment
∙ equipment inventory and rental
Given the information Akae would like to include in his database, how many tables would be optimal if similar information is grouped into tables?

• A) 5
• B) 4
• C) 3
• D) 2

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Definitions:

Producer Surplus

The disparity between what sellers are ready to take for a product or service and the actual amount they get.

Minimum Imposed Price

A price floor set by the government or other regulatory body, above the equilibrium price, to prevent prices from falling too low.

Consumer Surplus

The difference between what consumers are willing to pay for a good or service and what they actually pay, representing a measure of consumer satisfaction.

Producer Surplus

The difference between what producers are willing to accept for a good and the actual amount they receive.