Information Is Data Converted into Useful, Meaningful Context

question 188

Multiple Choice

Information is data converted into useful, meaningful context. What are data characteristics that change or vary over time?

• A) Facts
• B) Variables
• C) Supplies
• D) Services

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Definitions:

Simultaneously Increases

Occurring when two or more variables or conditions rise at the same time.

Supply Decreases

A situation where the quantity of a good or service that producers are willing to sell at a given price falls, often due to increased production costs or external factors.

Equilibrium Price

The market price at which the quantity of goods supplied is equal to the quantity of goods demanded.

Close Substitute

A good or service that can easily replace another, fulfilling the same need or want, typically affecting consumer choice.