To Supplement Backup Procedures, Businesses and Other Organizations Should Have

question 20

Multiple Choice

To supplement backup procedures, businesses and other organizations should have a(n) ____.

• A) insurance plan
• B) continuation rule
• C) disaster recovery plan
• D) survival guide

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Definitions:

Market Equilibrium

A situation where the quantity of a good or service supplied equals the quantity demanded, leading to a stable market price.

Consumer Surplus

The difference between what consumers are willing to pay for a good or service and what they actually pay, representing their net benefit.

Equilibrium Price

The price at which the quantity of a good or service demanded by consumers equals the quantity supplied by producers, leading to market balance.

Mutually Beneficial Trades

Exchanges between parties that provide benefits or gains to all involved, enhancing their welfare or utility.