Computer Networks,database Systems,POS Systems,etc

question 10

Short Answer

Computer networks,database systems,POS systems,etc.are few examples of _____,which support information systems in decision making.

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Definitions:

Elastic

A term used to describe a situation where the demand or supply of a good or service is sensitive to changes in price.

Inelastic

A characteristic of goods or services for which demand or supply does not significantly change in response to price changes.

Long Run

A period of time in which all factors of production and costs are variable, allowing for adjustment to changing market conditions.

Short Run

A time period in which at least one input is fixed, limiting the adjustments that a firm can make to its production.