Which of the Following Components in the Five-Component Model of Information

question 4

Multiple Choice

Which of the following components in the five-component model of information systems is considered an actor?

• A) software
• B) hardware
• C) data
• D) procedure

Recognize the role of key legislative acts in regulating industry concentration and mergers.

Comprehend the relationship between industry concentration and research & development (R&D) expenditures.

Understand the implications of economies of scale on industry concentration and competition.

Identify factors contributing to industry being oligopolistic.

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Definitions:

Finished Goods Inventory

Items that have completed the manufacturing process and are ready for sale.

Expected Sales

Projections or forecasts of the amount of goods or services a company plans to sell over a certain period, often used in budgeting and planning.

Stockouts

Situations where items are unavailable for sale or use due to insufficient inventory levels.

Budgeted Sales

It represents the expected amount of sales as planned for a future period, influenced by factors like past sales, market trends, and marketing strategies.