Which of the Following Statements Is True of Good Information

question 78

Multiple Choice

Which of the following statements is True of good information?

• A) Good information should go well beyond the scope of the purpose for which it is generated.
• B) Information should be relevant to the subject, not necessarily to the context.
• C) Good information should be based on correct and complete data.
• D) Good information is only received from sources that provide data for free.

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Definitions:

Households

Entities consisting of one or more people who live together and make joint decisions on consumption and other economic activities.

Firms

Business entities that produce goods or services, usually with the intention of selling them for a profit.

Opportunity Cost

The value of the best alternative forgone when a decision is made to use resources for a particular purpose.

Wage Increases

An upward adjustment in the amount of compensation employees receive for their work, often in response to inflation, productivity, or market demand.