An Important Advantage Knowledge Technology Has Over Older Versions of Business

question 84

Multiple Choice

An important advantage knowledge technology has over older versions of business technology is that it

• A) delivers timely information directly to the people who need it.
• B) is much cheaper to incorporate into most business operations.
• C) allows businesses to locate anywhere and still reach their customers.
• D) eliminates the need for businesses to store information electronically.

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Definitions:

Long-Run Average Unemployment Rate

The unemployment rate that is expected to prevail in the long-term, factoring in the natural movement of the workforce in and out of jobs.

Market Power of Unions

The capacity of labor unions to influence wages, working conditions, and employment levels through collective bargaining.

Minimum Wage

The lowest legal salary that employers can pay workers, set by government laws to ensure a minimum standard of living for employees.

Money Supply Growth Rate

The rate at which the amount of money available in an economy is growing, influencing inflation and economic stability.