In the Context of Components of a Typical Expert System,a(n)

question 35

Short Answer

In the context of components of a typical expert system,a(n) _____ is similar to a database,but in addition to storing facts and figures,it keeps track of rules and explanations associated with facts.

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Definitions:

Cartels

Groups of independent market participants who collude to control prices and production in an industry, often illegally.

Price Leadership

A market strategy where one leading company sets the price of goods or services, and other companies in the sector follow suit.

Covert Collusion

An implicit, non-public agreement between firms to fix prices, limit production, or divide markets, without explicit communication.

Allocative Efficiency

A state of the economy where resources are allocated in a way that maximizes the overall benefit to society.