One of the Most Common Methods of Validating Input Data

question 11

True/False

One of the most common methods of validating input data is to accept all numbers as strings.

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Definitions:

Price-Elastic

describes a market condition where the demand for a product changes significantly in response to a change in its price.

Consumer Spending

The total expenditures by households on goods and services, which is a primary component of aggregate demand in an economy.

Increase

A rise in quantity or quality in a given context, such as price, value, or productivity.

Price Elasticity

An index reflecting the degree to which the demand for a product varies with a shift in its cost.