In a Grocery Store,the Clerk Scans the UPC Code on an Item,which

question 7

Multiple Choice

In a grocery store,the clerk scans the UPC code on an item,which is transmitted to the computer: The scanner device is an example of the ________ component of an IS.

• A) hardware
• B) software
• C) data
• D) procedure

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Definitions:

Unit Elastic

A situation in economic demand or supply where a change in price leads to an equal proportional change in the quantity demanded or supplied.

Price Elasticity

A metric that shows the responsiveness of the quantity of a product demanded when its price changes.

Quantity Demanded

The amount of a good or service that consumers are willing and able to purchase at a given price.

Price Elasticity

An indicator of how the amount of a product that is bought or provided reacts to variations in its cost.