What Is a Collection of Large Complex Data Sets That

question 72

Multiple Choice

What is a collection of large complex data sets that cannot be analyzed using traditional database methods and tools?

• A) Knowledge
• B) Big data
• C) Snapshot
• D) Internet of things

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Definitions:

Price Elasticity

How the requirement for a good shifts in relation to changes in its pricing.

Midpoint Method

A technique used to calculate elasticity by taking the average of the initial and final quantities and the initial and final values.

Total Revenue

The total income received by a firm from its sales of goods or services, calculated as the unit price times the quantity sold.

Demand Curve

A graphical representation showing the relationship between the price of a good and the quantity demanded by consumers.