What Is the Binary System

question 734

Multiple Choice

What is the binary system?

• A) a number system with two digits, 0 and 1
• B) an 8-bit coding scheme
• C) a number system with 10 digits, 0-9
• D) a 16-bit coding scheme

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Definitions:

Law of Demand

A fundamental economic principle stating that as the price of a product decreases, demand for it usually increases, and vice versa.

Surpluses

Situations in which the quantity of a good or service supplied exceeds the quantity demanded at the current price.

Market Prices

Refers to the specific values at which commodities, securities, or services are traded in a competitive marketplace.

Shortages

Occur when the demand for a good or service exceeds its supply in a given market, often leading to price increases.