The Diamond in a Flowchart Is Called the Decision Symbol

question 6

True/False

The diamond in a flowchart is called the decision symbol, because it is used to represent the condition in both the selection and repetition structures.

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Definitions:

Supply Curve

A graphical representation showing the relationship between the price of a good or service and the quantity supplied over a given period.

Most Elastic

Refers to the responsiveness of the demand or supply of a good or service to changes in its price, with the most elastic being the most sensitive to price changes.

Supply Least Elastic

Characterizes goods or services for which supply does not significantly change in response to price changes, often due to limitations in production capacity or availability of resources.

Supply Curve

is a graphical representation that shows the relationship between the price of a good or service and the quantity of that good or service that a supplier is willing and able to supply to the market.