The Term ____________________ Was First Used in the Mid-1960s to Describe

question 47

Short Answer

The term ____________________ was first used in the mid-1960s to describe a computer system that could store literary documents,link them according to logical relationships,and allow readers to comment and annotate what they read.

---

Definitions:

Allocative Efficiency

A state of the economy where resources are distributed according to consumer preferences in a way that maximizes overall welfare.

Productive Efficiency

A situation in which an economy or a production process can no longer produce more of one good without sacrificing the production of another good and occurs at any point on the production possibility frontier.

Product Variety

The range of different products or services offered by a company or available in a market.

Benefits

Advantages or positive outcomes that result from actions, policies, or products.