What Are the Three Primary Types of Management Information Systems

question 139

Multiple Choice

What are the three primary types of management information systems available to support decision making across the company levels?

• A) Transaction processing systems, decision support systems, executive information systems
• B) Analytical information, decision support systems, executive information systems
• C) Transaction processing systems, drill-down systems, expert systems
• D) What-if analysis, sensitivity analysis, goal-seeking analysis

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Definitions:

Opportunity Cost

The expense incurred by not choosing the second-best option when making a decision or selection.

Comparative Advantage

The capacity of an entity to generate a product or service with a smaller opportunity cost than others.

Absolute Advantage

The capacity of an entity to manufacture a product or provide a service more effectively than its rivals, by utilizing fewer resources.

Comparative Advantage

A principle in economics that asserts a country's ability to produce a good at a lower opportunity cost compared to another country, fostering global trade efficiency.