ERP Refers to the Transfer of Data Electronically Between Companies

question 95

True/False

ERP refers to the transfer of data electronically between companies using networks, such as the Internet.

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Definitions:

Marginal Product

The additional output that is produced by using one more unit of a particular input, while keeping other inputs constant.

Worker

An individual who performs labour for a company or another person in exchange for compensation.

Diminishing Returns

A rule that implies that after reaching a certain threshold, the profit rate from investing more into a specific sector won't keep rising unless there are changes in other contributing factors.

Production Function

An equation that describes the maximum output that can be achieved with a given set of inputs.