Examlex

Solved

The Auto Insurance Company That Uses an App to Monitor

question 34

Multiple Choice

The auto insurance company that uses an app to monitor your driving behavior,collecting thousands of data points in the process,as part of providing you a policy quote that illustrates which dimension of Big Data?


Definitions:

Full Employment

A situation in an economy where all available labor resources are being used in the most efficient way possible.

Marginal Rate

Often refers to the marginal rate of substitution or marginal rate of transformation in economics, indicating the rate at which one good can be substituted for another.

Transformation

The process of converting inputs into outputs, often relating to the change of raw materials into finished products in the context of production.

Opportunity Cost

The rejection of potential benefits from alternative propositions when favoring one.

Related Questions