How Do Decision Support Systems Generate Information

question 68

Short Answer

How do decision support systems generate information?

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Definitions:

Gear Restrictions

Regulations or limits set on the range of gears that can be used in certain vehicles or machinery to ensure safety or efficiency.

Marginal Social Cost

The cumulative expense to the community for creating an extra unit of a product or service.

Private Cost

The cost incurred by a person or a firm directly involved in a transaction, excluding any external or social costs.

Efficient Outcome

A situation where resources are allocated in the most effective way possible, maximizing benefits without wasting resources.