____ Software for an Information System Is Usually a Series

question 156

Multiple Choice

____ software for an information system is usually a series of pre-programmed software modules, supplied by a software developer, consulting company, or value added reseller.

• A) Industrial
• B) Commercial
• C) Mercantile
• D) Trade

---

Definitions:

Purely Competitive

A market structure characterized by many buyers and sellers, where each seller is a price taker and homogeneous products are offered.

Market

An economic system that allows buyers and sellers to exchange goods and services, determining prices through the laws of supply and demand.

Deadweight Loss

signifies a loss of economic efficiency that can occur when the equilibrium for a good or a service is not achieved or is not achievable.

Purely Competitive

A purely competitive market is one in which there are many buyers and sellers, all trading homogeneous products, with no single entity able to control the market price.