Data Such as Transactional Data Collected by Banks,airlines,and Retailers Is

question 37

Multiple Choice

Data such as transactional data collected by banks,airlines,and retailers is known as _______ data.

• A)structured
• B)random
• C)collected
• D)unstructured
• E)big

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Definitions:

Perfectly Competitive

A market structure characterized by many buyers and sellers, homogenous products, and free entry and exit, leading to efficient pricing and output levels.

Organic

Pertaining to or derived from living organisms, in food production referring to practices that do not use synthetic pesticides or fertilizers.

Profit

The profit achieved when the revenue generated from a business operation surpasses the expenses, costs, and taxes needed to maintain the operation.

External Effects

Also known as externalities, these are positive or negative consequences of economic activities experienced by unrelated third parties.